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Satyam Maytas Case Study


Ssignificant role played by Mr. Raju in the Satyam fraud case Mr. Raju had alleged that he overvalued Satyam’s assets by $1.47 billion on the balance sheet. The corporation claimed to hold about $1.04 billion in bank loans and cash, but none of it existed. Satyam’s obligations were similarly understated on its balance sheet.


  • The CBI’s Report on Satyam Maytas Scam In the Satyam – Maytas Fraud case, Ramalinga Raju and his family have siphoned off an incredible amount of Rs 2,743 crores says the CBI. Satyam had inflated non-existent cash of Rs 5040 crore. Satyam had also understated liability of Rs 1,230 crores and over stated debt by Rs 490 crores.

  • In December 2008, Satyam announced its decision to purchase the company known as Maytas incorporated. This posed two major questions; first the company was owned by the sons of the Satyam Chairman which in itself raised a lot of concerns among the investors.

  • Maytas Infra The Board Of Directors of Satyam had approved the founder’s proposal to invest the company’s funds in buying stakes for an amount equivalent to USD 1.6 billion against their book worth of only USD 225 million in.

 

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