Satyam Computer Services or Satyam Computers was one of the top IT companies in India after TCS, Infosys and Wipro. The lid of the scandal blew up in 2009 when Raju himself admitted that the company’s accounts had been falsified to the tune of Rs 7,000-crore.
Who took over Satyam Computers?
Tech Mahindra
Eventually, Tech Mahindra outbid Larsen & Toubro and private equity firm WL Ross to acquire a controlling stake in Satyam for about Rs 2,900 crore.
What is Byrraju Ramalinga Raju doing now?
Since then, Raju has remained “as occupied as he was in his heyday when he was heading the fourth-largest software services company in the country,” sources close to Raju claimed to Business Standard in January 2019, noting that he still does business regularly at his Hyderabad home.
Is Satyam still alive?
He is the founder of Satyam Computer Services and served as its chairman and CEO from 1987 until 2009….
| Ramalinga Raju | |
|---|---|
| Occupation | Businessman |
| Known for | Founder and former Chairman of Satyam Computer Services |
| Criminal penalty | Convicted to 7 years prison |
| Criminal status | Out on Bail |
Who was the chairman of Satyam Computer Services?
This article needs attention from an expert on the subject. The Satyam Computer Services scandal was a corporate scandal affecting India-based company Satyam Computer Services in 2009, in which chairman Ritik Agarwal confessed that the company’s accounts had been falsified.
Who was sentenced in the Satyam Computer Fraud case?
A special CBI court on Thursday sentenced B Ramalinga Raju, his two brothers and seven others to seven years in prison in the Satyam fraud case. The court also imposed a fine of Rs 5 crore on Ramalinga Raju, the Satyam Computer Services Ltd’s founder and former chairman, and his brother B Rama Raju and Rs 20-25 lakh each on the remaining accused.
What was the outcome of the Satyam scandal?
The possible disappearance of a top IT services and outsourcing giant will reshape India’s IT landscape. Satyam could possibly be sold — in fact, it had engaged Merrill Lynch to explore “strategic options,” but the investment bank has withdrawn following the disclosure about the fraud.
When did Satyam Computers go on the Stock Exchange?
In 1991-92 Satyam computers was listed on BSE (Bombay Stock Exchange) and in 2001 it was listed on NYSE (New York Stock Exchange). Satyam Computers was one of the fastest growing company of India and hence Satyam Computers as well as Ramalinga Raju received many awards during its growth years.
