Satyam Scandal 'India'S Enron': Submitted By:-Mansi Mangla Submitted To: - DR Charu Shri Gupta
Satyam Scandal 'India'S Enron': Submitted By:-Mansi Mangla Submitted To: - DR Charu Shri Gupta
Satyam Scandal 'India'S Enron': Submitted By:-Mansi Mangla Submitted To: - DR Charu Shri Gupta
• Unethical behaviour is behaviour that breaches both the Company's Code of Conduct, and the general
notion of morally correct behaviour. Unethical behaviour can include any deeds that violate the law
like theft or violence, but unethical behaviour can involve much broader areas as well.
VIDEO
https://www.youtube.com/watch?v=KlEBp0QpX-k
SATYAM COMPUTER SERVICES
• Everything was going well with Satyam until the sequence of events unfolded which ultimately
led to the disclosure of not only the biggest financial but also the major ethical scam of
corporate India.
• In the year 2009, when the world was already reeling under the impacts of major financial
recession, Indian Technology sector was hit by what is termed as the most colossal fraud in
corporate history of India, The Satyam Scandal. The fraud often dubbed as the ‘India’s Enron’
took everyone by surprise as at the time scam was exposed.
• However, things turned ugly when on January 07, 2009, the chairman of Satyam Computer
Services Ramalinga Raju wrote a letter to Securities and Exchange Board of India admitting to
the fraudulent activities and financial irregularities in his company. Ramalinga acknowledged
in his letter that he had been forging company’s accounts by overstating its revenues and
inflating its profits for years and that Satyam Balance sheet showed nearly $1.5 billion in non-
existent cash and bank balances, accrued interest, and misstatements.
PEOPLE INVOLVED IN THIS SCAM