January 08, 2009

Ramalinga Raju and Satyam

In 1980's Ramalinga Raju did his MBA from ohio university and began providing back office support to this company. He identified that this work can be done by any qualified Indian engineers, but the company was wary of outsourcing. Raju made a bet with this company, if he failed to provide quality work yet more cheaply, the company need not pay him anything.

Ramalinga Raju then set up a office in next street with a handful of Indian engineers and ran it on Hyderabad time. He won the bet and Satyam was born

Identify the company which became one of the biggest customer in Satyam's early days??

Answer in comments

Fraud, unfortunately, is a fact of life in the globalized business world and most of the financial frauds happens with others moneys. Some idiot will get too greedy and mismanages others hard earned money

Satyam Fiasco is unprecedented, for a company to over report cash flows in such a extent from years is shocking.about $1bn (£0.65bn), or 94% of the cash on the company's books, was made up and no one knows about it??

The reckless strategy to cook the books and cover it by acquiring his sons companies proved too costly to Raju. And everyone in Satyam's leadership team, Board of Directors, Auditors,Professors who teach how to mange business, Bureaucrats, Politicians who helped MAYTAS to win projects(AP govt gave 15,000 cr rs worth of projects out of 50,000 cr rs it is spending on Irrigation projects and Maytas failed to finish many of them) are acting as if they dont know anything.

3 comments:

praneeth said...

Deere & Co

livenewss said...

“Satyam value today $330m against $7bn six months ago accd to Financial Times.”

Regards,
http://bse.blogsome.com

bommareddy said...

Dun & Bradstreet....Anil