Corporate Governance Issues at Satyam Computers
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Case Details:
Case Code : BECG094
Case Length : 18 Pages
Period : 2008-2009
Pub Date : 2009
Teaching Note :Not Available
Organization : Satyam Computer Services Ltd.
Industry : Information Technology/ Software Services
Countries : India
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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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Excerpts Contd...
What was the Board Doing?
The issue of Maytas' aborted acquisition and the subsequent disclosure of financial irregularities in Satyam cast a shadow on the role played by the independent directors at Satyam...
The Board's Limitations
Some corporate governance experts pointed out that though the independent directors were responsible for good governance in companies, they themselves relied mostly on the information presented to them by the management, and that it was not possible for them to investigate such accounting frauds...
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The Aftermath
The Satyam fiasco was expected to have an adverse impact on the image of IT services companies in India, as it was the fourth largest company in the industry. Anand Mahindra, Vice-chairman and MD, Mahindra Group, said,
"This development has resulted in incalculable and unjustifiable damage to Brand India and Brand IT in particular. What is especially ironic is that Satyam was started by entrepreneurs who have served as role models for an entire generation of young Indians."...
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Exhibits
Exhibit I: Satyam Computer Services - Financial
Results
Exhibit II: Satyam Computer Services - Balance Sheets
Exhibit III: Committees under the Board of Directors at Satyam
Exhibit IV: Satyam Computers - Stock Price Chart (March 2008 - March
2009)
Exhibit V: How Satyam Inflated Profits? |
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