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SATYAM COMPUTER LTD

ABOUT THE COMPANY:Satyam is a leading global business and information technology company,delivering consulting, systems integration, and outsourcing solutions to clients in

over 20 industries.It leverages deep industry and functional expertise, leading technology practices,and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance. Thecompanys Associates excel in engineering and product development, supplychain management, client relationship management, business process quality,business intelligence, enterprise integration, and infrastructure management,among other key capabilities.

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MAJOR RECOGNITION OF SATYAM:

RANKED NO.2 BPO VENDOR GLOBALLY BY BROWN-WILSONGROUP OF ADVISORY.RANKED NO 4 KPO VENDOR GLOBALLY BY BROWN-WILSONGROUP OF ADVISORY.BEST BUSINESS PROCESS OUTSOURCE PROVIDER BYINTERNATIONAL QUALITY AND PRODUCTIVITY CENTRE.RASBIC AWARD MOST INNOVATIVE RECRUTING AND STAFFINGPROGRAMME INITIATED AWARDED @ ASIA PACIFIC HRMCONGRESS.

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ABOUT RAMALINGARAJU:

Byrraju Ramalinga Raju (born September 16, 1954) was the founder andChairman of Satyam Computers until January 7, 2009 when he resigned from theSatyam board after admitting to corporate fraud. Satyam was created byRamalinga Raju and others and was until recently perceived to be amongst thetop Indian IT vendors. Raju has allegedly admitted overstating its cash reservesby one billion US dollars Later, allegations have been made that the company'sassets were not inflated, but instead siphoned off by Ramalinga Raju. Raju iscurrently held in Hyderabad's Chanchalguda jail on criminal charges includingfraud, forgery, cheating, embezzelment and insider trading.

AWARDS AND ACHIEVEMENTS:Award Awarded by

2008

Asian MAKE (Most Admired Knowledge Enterprise) Award Teleos, in association with KNOWNetwork

UK Trade & Investment India (UKTI) Business Award for corporatesocial responsibility

UKTI

SAP Pinnacle Award 2008 under Service Ecosystem Expansion(Growth) category

SAP

Best IR Website in the Asia Pacific & Africa region for providingcomplete, accurate and timely investor relations information

MZ Consult

http://en.wikipedia.org/wiki/Satyam_Computer_Services_Ltd.http://en.wikipedia.org/wiki/File:Ramalinga_Raju_at_the_2008_Indian_Economic_Summit.jpghttp://en.wikipedia.org/wiki/Satyam_Computer_Services_Ltd.

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Award for Best IT Practices in IT Sector Amity Business School, Noida, India

2007

Partner Innovation Award for Anti-Money Laundering (AML) solution Pegasystems

Competitive Strategy Leadership Award for Offshore Testing Market Frost & Sullivan

Asian MAKE (Most Admired Knowledge Enterprise) Award Teleos, in association with KNOWNetwork

Indian MAKE (Most Admired Knowledge Enterprise) Award Teleos, in association with KNOWNetwork

Award for "Strengthening Customer Relationships" ITSMA (IT Services MarketingAssociation)

Winner of the First Partner Innovation Award Software AG/webMethods

Ranked # 1 in the ASTD BEST Award American Society for Training andDevelopment (ASTD)

First Asian company to rank in Training Magazine's Top 125companies for learning

Training Magazine

Citizenship Partner of the Year Award, 2007 Microsoft

Vision, Impact, Progress (VIP) Award, 2007 Computer Associates

Second-Best Employer in India Hewitt India

The only IT Services company from India in the list of the TOP 20Best Employers in Asia

Hewitt Asia

BML Munjal Award for Excellence in Learning and Development Hero Mindmine Institute (part of theHero group of industries)

2006-07

TDWD Best Practices Award TDWI (The Data Warehousing Institute)of North America

Top Asian Knowledge Organization Most Admired Knowledge Enterprise(MAKE)

Third-Best Company to Work for in India BT-Mercer-TNS

Award for most innovative recruitment practices RASBIC (Recruiting & Staffing Best inClass)

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Ranked in the ASTD Fourth BEST awards American Society for Training &Development (ASTD)

Recognition Of Commitment (ROC) Award The Institute of Internal Auditors, USA(IIA)

2005-06

Winner, Corporate Citizen I award for Corporate SocialResponsibility

Business World , FICCI, and SEDF

CMMI Level 5 Company-wide SEI, CMU authorized Lead Assessor

ISO 27001 Global Certification BVQI , UK

Forbes Top Asian Companies under US$1 billion Forbes Magazine

Top 13 Best-Managed Companies in India Business Today and AT Kearney

AS 9100/EN 9100 (Aerospace Standards Certification) BVQI , UK

People CMM Level 5 Assessment, Pune facility TUV Rhineland

2003-04

Ranked Among Top 10 Best Companies to Work for in India Business Today MercerTNSSurvey

Ranked Among Indias Top 10 Best Employers, 2004 and 2003 CNBC-Hewitt Best Employers Survey

Best Risk Management and Solution Delivery Gartner

Organization that Creates Fun and Joy at Work HT Power Jobs Awards

2001-02

National Award for Bright Ideas for Idea Junction Indian National Suggestion SchemesAssociation

IT Offshore Service Delivery Program named Industry BestPractice

Aberdeen Group

Security Standards Certification BS 7799 International Information Security andManagement Standards

Best Global Data Warehousing Solution TDWI

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First IT Company in the World Certified under ISO9001:2000 Bureau Veritas Quality International

Pre-2001

SEI CMM Level 5 Certification SEI, CMU authorized Lead Assessor

100 Leading Pioneering Technology Companies World Economic Forum

BOARD OF MEMBERS

Deepak Parekh63-year-old Deepak S. Parekh is currently the Executive Chairman HousingDevelopment Finance Company (HDFC), the countrys largest housing finance.Mr. Parekh joined the corporation in a senior management position in 1978. Mr.Parekh is the non-executive Chairman (since 1994) of GlaxoSmithKlinePharmaceuticals Ltd. Mr. Parekh is also a director on the board of several Indianpublic companies such as Siemens Ltd. (since 2003), HDFC Chubb General

Insurance Co. Ltd. (since 2002), HDFC Standard Life Insurance Co. Ltd. (since2000), HDFC Asset Management Co. Ltd (since 2000), Housing DevelopmentFinance Corporation Ltd (since 1985), Castrol India Ltd. (since 1997),GlaxoSmithKline Pharmaceuticals Ltd. (since 1994), Infrastructure DevelopmentFinance Co. Ltd (since 1997), Hindustan Lever Ltd. (since 1997),

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Kiran KarnikA post-graduate from Indian Institute of Management, Kiran Karnik was thepresident of Nasscom, the premier trade body and the chamber of commerce

for the IT software and services industry in India, till 2008. In this role, Karnikworked closely with the industry, and the Indian central and state governments toformulate policies and strategies for the advancement of this sector locally aswell as internationally. His key function is to build global brand equity for theIndian software and service industry.

Mr. Karnik has been the guiding force for the Indian IT industry during theoutsourcing backlash. By providing perspective and background information, Mr.Karnik has been instrumental in promoting India's technology strength to theworld. To fuel growth in the domestic market, Mr. Karnik has lobbied with thegovernment to announce tariff cuts on computer hardware.

.

C AchuthanC Achuthan is a former presiding officer of the Securities Appellate Tribunal. Aneminent legal expert, Achuthan was also a member of market regulator SEBI.During his tenure at Securities Appellate Tribunal, he was credited for fine-tuningthe Indian capital market.

Tarun Das Tarun Das has spent his entire working career in industry associations, startingwith the predecessor body of CII in November 1963 and was the Chief Executivesince April 1974 when CII (formerly AIEI) was formed through a merger of 2Associations, till June 2004. He is currently the Chief Mentor of CII.

He is an Honours Graduate in Economics and Commerce from CalcuttaUniversity, India and Manchester University, UK. He has been awarded anHonorary Degree of Doctorate in Science by The University of Warwick, UK andhas been conferred an Honorary CBE by Her Majesty the Queen for hiscontribution to Indo-British relations. He is also the recipient of the `Blackwill

Award' by US India Business Council for his contribution to Indo-US Economicco-operation. Mr. Das has also been conferred with the 2004 Singapore NationalAward (Public Service Medal) by the Singapore Government for his contributionto strengthening economic ties between India and Singapore. Mr Das has beenawarded the Padma Bhushan in 2006, one of

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T.N. ManoharanMr. T.N. Manoharan, FCA, Chennai, is the Former President of the Institute of

Chartered Accountants of India (ICAI), the Apex Body of the profession of Chartered Accountants in India. He hails from a freedom fighters family withagriculture background. He is a post graduate in commerce from SriVenkateswara University and a law graduate from Madras University.

A member of the ICAI with 23 years of standing, Mr. Manoharan was elected tothe Council of ICAI for the first time in 2001. He has served in all standingcommittees and various non-standing committees of the ICAI. During hisassociation with the ICAI, he pioneered the bringing out of Peer Review Manual.He took initiative to bring out the Guidance Notes on Certification for Transfer Pricing and for Minimum Alternate Tax. He was instrumental in bringing out therevised edition of `Issues on Tax Audit?

S.B. MainakMr. S.B. Mainak is a Chartered Accounted by qualification. He joined the servicesof LIC in the cadre of AAO in the year 1983 as a Direct Recruit under CA batch.His first posting was in the Finance and Accounts department of the erstwhilecombined Bombay Divisional Office. Heading up in his career in LIC he movedon to marketing operations and worked as branch in-charge in rural and urbanbranches and also was Divisional Manager in-charge of Pension & GroupSuperannuation operations at Pune division. He was posted to InvestmentDepartment in the cadre of Deputy Secretary and had the opportunity to head thenewly setup Equity Research Cell of LIC.

He has over ten years experience in Fund Management by virtue of havinghandled Equity Research, Secondary Market Operations, Insurance PortfolioManagement and newly set up new pension schemes.

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THE SATYAM SCANDAL:

Its the biggest ever fraud in India.

Ramalinga Raju, the former boss of Satyam Computers, managed to rack up abillion-dollar fraud, which somehow no one found out about.

Investors in Indian shares were stunned by Mr Raju's revelation, in a letter to thestock exchange this Wednesday, when he confessed his wrongdoing andadmitted that he had effectively cooked the books of his firm for the last severalyears.

Satyam's shares plummeted on the news by 75%, dragging down India's stockmain market by 7%.

On 7 January 2009, the company Chairman Ramalinga Raju resigned after notifying its board members and the SEBI that he had falsified accounts.

Ramalinga Raju affirmed in a letter to the board that neither he nor the managingdirector had benefited financially from the inflated revenues. He claimed thatnone of the board members had any knowledge of the situation in which thecompany was placed.[13] [14] He noted that Satyams balance sheet as of the30th of September, 2008, carried inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books). It carried anaccrued interest of INR 376 crore which was non-existent. An understated liability

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of INR 1,230 crore on account of funds was arranged by himself. An overstateddebtors' position of INR 490 crore (as against INR 2,651 crore in the books).

It is a simple thing. Ramalinga Raju just put the money from his SathyamComputers to his own property development company.

Raju Admits Fraud in Satyam Balance Sheet:

Satyam chairman - Ramalinga Raju, has revealed that balance sheet figureswere tampered and inflated profits were shown.

Raju has also said that the Maytas deal was a last attempt to plug this fictitiouscash into real assets. September quarter revenue was at Rs 2,112 crore whereasthe amount mentioned in the balance sheet was Rs. 2700 crore. Similarly,operating margins for September was Rs. 61 crore as against the reported sumof Rs. 649 crore.

Raju said a task force has been formed to address the situation. He has alsomaintained in his letter that board members were unaware of this tampering.

http://skyblue.in/wp-content/uploads/2009/01/ramalinga-raju.jpg

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WHO ARE ALL RESPONSIBLE FOR THEFALL OF SATYAM COMPUTERS ?

Though Ramalinga Raju may have desires or may have diverted his attentionon his son's companies, why the board of directors kept silent, and how thebalance sheet was prepared for the last 10 years, and what the accountsdepartment done and why the chief financial controller not raised hisvoice....so many questions will come to income-tax departments too.somemore persons too may misguided the chair-person Ramalinga Raju. ithink the employees appointed purely on merit may be allowed to continueand those who are all appointed by the recommendations by variouscentral/state govt heads may be sent home, because the department headsaccepted the wrong particulars and reqested employment in satyam to their kith and kin though they are not eligible with huge pay. Totally, the board of directors, income-tax department, auditors, accounts chief, and hisdepartmental staff, the bank officials are also responsible.

SEBI TEAM REACHES JAIL TOQUESTION RAJUS :

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Wed-Feb 04, 2009

Hyderabad / Indo-Asian News Service

A team of officials from the Securities and Exchange Board of India (SEBI)reached the Chanchalguda Central Jail in Hyderabad Wednesday to beginquestioning Satyam Computer Services founder B Ramalinga Raju and hisbrother B Rama Raju over the Rs 70-billion accounting fraud.

Armed with permission from the Supreme Court to grill the accused, a three-member SEBI team led by general manager Sunil Kumar entered the jail around10am with a bunch of files.

The SEBI officials will first discuss with prison authorities the modalities for thethree-day interrogation. As per the court order, Sunil Kumar would apprise the jailsuperintendent in advance of the names of his subordinates and colleagues whowould be accompanying him to interrogate the two.

They will also decide the timing and other details. It was not clear if thequestioning will be done in presenceof any jail official.

The Supreme Court had Tuesday allowed SEBI to interrogate the Raju brothersin jail from February 4 to 6.

SEBI officials will question Rajus on suspected insider trading, diversion of Satyam funds to other companies promoted by their family members and other aspects of the case.

This is the first time since Rajus' arrest on January 9 that SEBI has got access tothem. The market watchdog on Jan 9 had served summons on the Raju brothersto appear before SEBI team, which had reached Hyderabad Jan 8, a day after Ramalinga Raju publicly confessed to the accounting fraud in Satyam, India'sfourth largest IT services firm.

Their lawyer S Bharat Kumar had informed SEBI that they would appear onJanuary 10. However, few hours later they surrendered before CrimeInvestigation Department (CID) of Andhra Pradesh police.

This gave rise to the suspicion that the two brothers were evading a SEBIinterrogation. SEBI then approached a magisterial court to seek permission torecord their statements but the magistrate dismissed the petition on Jan 23.

SEBI challenged the order in the Andhra Pradesh High Court last week.

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Appearing for SEBI, Solicitor General of India Goolam E Vahanvati had prayedfor an ex-parte interim order to question the accused but the high court hadrefused to pass such an order without hearing Rajus. The high court had issuednotices of admission to the Rajus and posted the matter for hearing on February9.

Frustrated over the delay in accessing the accused, SEBI approached theSupreme Court, which gave its nod for the questioning.

Satyam gets new CEO, Rs 600 cr bank funds

Thu-Feb 05, 2009

Hyderabad / Press Trust of India

Satyam's government-appointed Board on Thursday named A S Murty, one of the company's own, as Chief Executive and announced tying up Rs 600 croreloans to meet working capital needs.

The board, at the end of a two-day meet, also roped in Homi Khusrokhan, a Tatagroup veteran, and chartered accountant Partho Datta, as special advisers tohelp the company in management and finance areas, respectively.

Murty, who has been with Satyam for 15 years and was currently heading thecompany's global delivery unit, would assume charge as CEO with immediateeffect.

The company's former CEO Rama Raju, along with Satyam founder RamalingaRaju, is in judicial custody pending trial in a case relating to a Rs 7,800 croreaccounting fraud in the IT firm.

The company's accounts are at present being restated by KPMG and Deloitte .

Datta, who would be overseeing the financial operations of Satyam, has servedas director finance of Chennai-based Murugappa Group.

He said that completing the restatement exercise, Q3 results announcement andensuring prudent financial operation would be the primary focus in the next fewweeks."

Satyam said Rs 600 crore fresh funds sanctioned by banks, along with healthycollections, is expected to help tide over the company's financial challenges.

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SATYAM GETS TAKEOVER OFFERS :Tue-Jan 20, 2009

New Delhi / Press Trust of India

Troubled software exporter Satyam on Tuesday said it has been approached for takeover by domestic and foreign companies, the IT company's board member TarunDas said.

The board will meet for two days starting January 22 in Hyderabad and would

discuss issues such as search CEO and CFO, legal matters and immediate cashrequirements to run the company, he told reporters in the capital.

The board would also discuss whether it needs to ask the government to standas a guarantor for raising loans.

Das said the company has been approached for buyouts by both internationaland Indian IT firms. There have been unconfirmed reports that the companymight soon appoint investment bankers to advise on a merger or sale.

Earlier, another board member Deepak Parekh had said that option of merger

was always open for the company.The board meeting would deliberate on class action lawsuits filed against thecompany in the US.

The six-member board, appointed by the government to run the firm after ashocking Rs 7,800 crore fraud disclosure by founder B Ramalinga Raju onJanuary 7, last met on January 17.

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CONCLUSION:

THERE ARE MANY ISSUES THAT HAVE CREEPED UP IN OUR COUNTRY

BUT THIS ISSUE HAS GOT THE ATTENTION OF THE ENTIRE NATION,,BUT WE WONT LET ONE MAN SPOIL OUR LIVES.