Satyam Scam

Satyam scam Satyam Computers had on December 16, 2008, announced that it will rent twain group firms 1.Mayas properties 2.2 Mayas Infra The Board of Directors of Satyam had approved the hands proposal to buy 51 per cent load down in Mayas Infrastructure and one hundred % in Mayas Properties. The total leakage for twain the acquisitions was expected to be US$ 1.6 bn comprising of US$ 1.3 bn for the 100% adventure in Mayas Properties and US$ 0.3 bn for the 51% This is the move that stake in Maytas Infra. sparked a row over alleged misdemeanor of embodied governance laws. This galvanic pile is non gainful for investors, So subsequently this announement they started to raise their voices against the deal TWIST IN WHOLE SCAM The play along is run by Firms which he wanted to purchase Maytas Infra, It was started in the late 1980s by the sons of Ramalinga Raju. The main reason for the slaughter of Maytas Infra is payable Ramalinga Raju to the One of the reaso ns for debacle of Satyam Maytas Properties Ltd the debacle of Maytas properties was hence ongoing economic. The play along has bulky land banks and the prices have dropped backwardness down in the real estate significantly. HOW DID HE FAIL The promoters indomitable to extend the revenue and profit figures of Satyam.

In the event, the company had a huge hole in its balance sheet So to involve up this gap Company announced accomplishment of 51% stake in Maytas Infra and 100% stake in Maytas Properties on 16th Dec 2008 but The deal was not profitable for investors Investors dumped Satyams stock and threatened accomplish against t he management. This was in the main ma! ke to hide the Why was this action done irregularities in the accounts of Satyam. It is also said the close association with the governmental leading is one of the reasons. Raising fictitious bills for services that were never rendered. To adjoin the Cash &bank balance correspondingly. Operating get were by artificial means boosted from the actual Rs 61 crore to 5064 crores. Its financial...If you want to get a rise essay, order it on our website: BestEssayCheap.com

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