![Black Faces of Indian IT ,[object Object],[object Object],Group 7 - ET Presentation V Chandrashekharan (Pentamedia group) Ramalinga Raju (Satyam) Byrraju Ramalinga Raju is the biggest fraudster in the Indian software industry, but he is not the first. Dinesh Dalmia, Vice-Chairman, DSQ Software, has been in jail for two years. Pentamedia company promoter V Chandrasekaran was found to be in cahoots with tainted broker Ketan Parekh in rigging up share prices.](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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- 1. Economic Times Presentation Satyam-Saga (A)
- 6. Satyam : Dec-2008 to Jan-2009 Group 7 - ET Presentation
- 8. Group 7 - ET Presentation What happened next???
- 11. Group 7 - ET Presentation Comments from Wharton Professors: "If there were one or two more such accounting scandals in the next six months, it would make international investors more wary.” “ Foreign investors will look a little more askance at accounting data from India. And that may not be a bad thing.” "When you have companies that are ostensibly growing their top lines at 30%, 40% or 50%, it is possible to paper over things. When growth rates slow down, you are unable to hide the financial reality of how much cash you actually have. It is possible that during this slowdown period, more scandals will come to light.” “ shocking, painful & a good warning for other companies in the sector.” “ We reaffirm our commitment that we’ll focus on creating value for our customers with the same passion that we have demonstrated in the past while maintaining the highest ethical and governance standards.” Experts’ Reaction
- 12. Perfect Auditors!!! Group 7 - ET Presentation
- 17. Thank You ! Group 7 - ET Presentation
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