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
