– Company Involved: Satyam Computer Services, one of India’s leading IT services companies.
– Founder:Ramalinga Raju, the chairman and founder of Satyam.
The Scam: In January 2009, Ramalinga Raju admitted to inflating the company’s financial statements by ₹7,136 crore
Raju falsely reported profits, overstated assets, and fabricated bank receipts.
The company was taken over by the government and later acquired by Tech Mahindra in 2009.
– Satyam's stock price collapsed after the fraud was revealed, leading to significant losses for investors.– The scandal shook investor confidence in corporate governance in India.