Satyam Scam

Satyam scam

Satyam Computers had on December 16, 2008, announced that it will acquire twain group firms
1.Mayas properties
2.2 Mayas Infra
The Board of Directors of Satyam had approved the founders proposal to buy 51 per cent carry in Mayas Infrastructure and 100 % in Mayas Properties. The total outflow for twain the acquisitions was expected to be US$ 1.6 bn comprising of US$ 1.3 bn for the 100% stake in Mayas Properties and US$ 0.3 bn for the 51% This is the move that stake in Maytas Infra. sparked a row over alleged violation of embodied governance laws. This galvanic pile is not profitable for investors, So subsequently this announement they started to raise their voices against the deal

TWIST IN WHOLE SCAM

The play along is run by Firms which he wanted to purchase Maytas Infra, It was started in the late 1980s by the sons of Ramalinga Raju. The main reason for the slaughter of Maytas Infra is due Ramalinga Raju to the One of the reasons for debacle of Satyam Maytas Properties Ltd the debacle of Maytas properties was hence ongoing economic. The company has huge land banks and the prices have dropped backwardness down in the real estate significantly.

HOW DID HE FAIL

The promoters indomitable to inflate the revenue and profit figures of Satyam.



In the event, the company had a huge hole in its balance sheet So to fill up this gap Company announced accomplishment of 51% stake in Maytas Infra and 100% stake in Maytas Properties on 16th Dec 2008 but The deal was not profitable for investors Investors dumped Satyams stock and threatened accomplish against the management.

This was mainly make to hide the Why was this action done irregularities in the accounts of Satyam. It is also said the close association with the governmental leaders is one of the reasons.

Raising fictitious bills for services that were never rendered. To increase the Cash &bank balance correspondingly. Operating get were artificially boosted from the actual Rs 61 crore to 5064 crores.

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