Strategic Sale of Satyam Computers

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Case Details:
Case Code : BSTR337
Case Length : 20 Pages
Period : 2008-2009
Pub Date : 2009
Teaching Note :Not Available Organization : Satyam Computer Services Limited, Tech Mahindra Limited
Industry : Information Technology / Software Services
Countries : India
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Resurrection of Satyam Contd...
Satyam found itself in deep trouble after its founder and
Chairman, B. Ramalinga Raju (Raju), on January 07, 2009, claimed that the
company had been inflating the revenues and profit figures for the last several
years. He confessed to an accounting fraud that amounted to Rs. 70 billion8.
With Raju's confession, a cloud of uncertainty hovered over Satyam. The future
of over 50,000 employees and the numerous IT projects that Satyam had undertaken
for companies across the world hung in the balance. At this juncture, the
Government of India intervened and constituted a new board for the company.
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The board immediately reassured Satyam's employees and
clients, raised money for working capital, and appointed new auditors to restate
the accounts.
With the approval of the Company Law Board (CLB)9 and the Securities and Exchange
Board of India (SEBI)10, the Satyam board started on the process of identifying a
strategic investor for Satyam and specified the rules and regulations for the
bidding process...
Excerpts >>
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