The euphoria over the Rs 181 crore (Rs 1.81 billion) net profit in October-December 2008 notwithstanding, Satyam is still not out of the woods as it faces legal and other claims that could put a burden of up to Rs 10,000 crore (Rs 100 billion) on it.
All the 10 accused in the case, including prime accused Satyam Computers founder and former chairman B Ramalinga Raju and his brother and Satyam's former MD B Rama Raju, appeared in the court, as per its direction.
The NYSE-listed Satyam Computer Services on Tuesday said the company has the potential to grow from its current employee strength of 20,000 to 50,000 in a few years.
Satyam Computer Services announced on Wednesday that it added 27 new clients in the quarter ended September 30, 2003.
Special court will announce judgement in Satyam case on Dec 23.
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
Raju and his brother B Rama Raju were told to furnish personal bonds of Rs 100,000 each
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
The 10 accused in the case include prime accused Satyam Computers founder and former chairman B Ramalinga Raju, his brother and Satyam's former MD B Rama Raju, ex-CFO Vadlamani Srinivas, former PwC auditors Subramani Gopalakrishnan and T Srinivas, Raju's another brother B Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam, and Satyam's former internal chief auditor V S Prabhakar Gupta.
Raju's grandfather had commissioned a similar sahasra nama mala for Lord Balaji 50 years ago. Raju now wanted to offer a new garland.
Experts regretted that it has taken too long to deliver justice
There is a two-minute footage about Choksi in the series which allegedly shows him in a bad light and therefore, could affect the various proceedings against him in India.
Indian business, on quite a different trajectory from its global counterpart, remains relatively insulated from any kind of backlash.
This is one of the major corporate frauds in the country.
The boards of Mahindra Satyam and Tech Mahindra last year proposed a swap ratio of 2:17. Mahindra Satyam shareholders will get two shares of Tech Mahindra of Rs 10 each for every 17 shares they hold.
Top businessmen often seek refuge in the animal kingdom to describe their situation
Affluence without conscience, haunted homes and heads, a big fat Punjabi wedding and more on OTT this week. Here are Sukanya Verma's 10 recommendations.
According to a department notification, Tech Mahindra has approached the Board of Approvals under the Department of Commerce for transferring rights of three SEZs (one in Tamil Nadu and two in Andhra Pradesh) and the proposal will come up for a discussion before the BoA on August 30.
The merger process started four years ago, with the acquisition of Satyam in April 2009.
Going by the provisions of the new company law, the responsibility and accountability equation for independent directors has seen a major change.
The Bad Boy Billionaires series has a lot in common: The three billionaires' hefty ambition, dangerous arrogance and untrammeled power, observes Dhruv Munjal.
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Corporate lawyers say the fine on independent directors will make them more cautious and some will be wary of taking assignments from companies with low corporate governance standards.
Now, it is life as usual in the merged entity, said an associate.
In June last year, Tech Mahindra completed acquisition of Mahindra Satyam -- erstwhile Satyam Computer Services -- to become India's fifth largest software services firm. Mahindra is also the Chairman of Tech Mahindra.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
The size of corporate fraud in India almost doubled after 2009, and such cases also increased in number, said a report from Thought Arbitrage, a think tank in Delhi.
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
Investing in special situations can help you tap opportunities that arise during adverse conditions, advises Joydeep Sen.
Every day when Akhilesh returns after a joust with political adversaries to his Camelot, which is Lucknow's 5, Kalidas Marg, it is time to hold court with advisors and loyalists.
The Enforcement Directorate has managed to sniff out over Rs 9,000 crore as suspected haul from money laundering in a decade, but it has yet to link those against anyone successfully in a court.
VG Siddhartha's story 'will be a good case study and not a deterrent to those who want to be entrepreneurs. I don't think it will scare young entrepreneurs. I think these cases will make them sensible. They will understand that they have to be very careful about certain things, otherwise, they will have to pay a heavy price.'
Civil Aviation Minister Suresh Prabhu said appropriate action would be taken in case anything is 'found wanting'.
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