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Satyam 's Respectable And Progressive History

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I. Case Synopsis This is best expressed by sharing Satyam’s history, credibility, financial health, media/investor crisis, fraud discovery and aftermath. Satyam’s Respectable and Progressive History: 1987 = founded by the two brother Rama Raju and Ramalinga Raju 1991 = converted from private limited company to a public company 1992 = issued shares to the public 1993 = entered into its first global foray by establishing a joint venture with the US company Dun and Bradstreet 1996 = set up its first office in the US and developed new business partners around the world opened IT schools in India and four subsidiaries 1998 = made its first Greenfield investment in the United States and opened two software developments centers 1999 = merged with different subsidiaries and was listed on the NASDAQ 2000 = won the national HRD Award 2001 = software development and information technology 2003 = received the IBM Lotus award for innovation 2008 = became India’s 4th largest software development and information technology company Satyam Establishes Credibility: • Formed a board of five independent and four internal members – having only two that were related (the founding brothers of the company) • First Indian company to post its audited results for the 2007/2008 financial in accordance with the International Financial Reporting Standards • Entered several alliances with companies like World Bank, Yahoo!, Microsoft, Emirates, and many other well-established and
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