Ahir Mitra
Law Student

M/S. Satyam Computer Services v. Directorate Of Enforcement

Mr. Ramalinga Raju founded the company in 1987 with only 20 people. During the years 2003-2008, the firm grew and prospered, and by the end of March 2008, Satyam's revenue had reached a high of USD$467, a 35 percent annual compound rate of growth, and it had many more accomplishments. On the 6th of January 2009, six months after team ‘Satyam' got the ‘Golden Peacock award,' suspicions of fraud were made, and it was claimed that he had been manipulating the company's accounts for years (Rs. 7,316 Crores). This crisis is a thorough show of one's carelessness with fiduciary responsibilities, a total collapse of ethnic standards; severe rivalry and the drive to impress stakeholders, particularly investors, analysts, shareholders, and the stock market; top management's low ethical and moral standards, and a higher emphasis on short-term performance.

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