Satyam | Global IT Company | Software Development Services | IT Services

Satyam:

Satyam is an Global IT company providing consulting services, enterprise business solutions, application development services and engineering solutions to clients in over 20 industries. Satyam is a leading global business and information technology company.

Ramalinga Raju:
Founder and Chairman of Satyam Computer Services Ltd; Chosen as Ernst & Young Entrepreneur of the Year for Services in 1999

Ramalinga Raju is one of the pioneers of the Information Technology industry in India. He is the founder and Chairman of Satyam Computer Services Ltd.

Fraud

In January 2009 Raju indicated that Satyam’s accounts had been rigged over a couple of years. The botched acquisition attempt involving the company Maytas in December 2008 led to a plunge in the share price of Satyam and started unraveling the fraud. It eventually ended in Raju admitting to the accounting fraud to the tune of 7000 crore Rupees or 950 million pounds, and resigning from the Satyam board on January 7, 2009. The Indian subsidiary of PricewaterhouseCoopers was the auditor of Satyam.

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