Satyam

Essay specific features

 

Issue:

Business

 

Written by:

Kathleen M

 

Date added:

June 21, 2010

 

Level:

University

 

Grade:

A

 

No of pages / words:

49 / 13561

 

Was viewed:

2667 times

 

Rating of current essay:

 
Essay content:

The country's fourth largest IT company - after TCS, Infosys and Wipro and ahead of HCL - was for several years cooking its books by inflating revenues and profits, thus boosting its cash and bank balances; showing interest income where none existed; understating liability; and overstating debtors' position (money due to it)...
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The 54-year-old US MBA Raju's letter of guilt and resignation to the Satyam board and SEBI on Wednesday morning sledge-hammered India Inc, dumbfounded regulators, pummelled the company's stock, knocked the bottom out of the market, and cast a long shadow over industry in general and the IT sector in particular...
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