|
|
CORPORATE
CORPORATE GOVERNANCE:
Rs 7,000-crore fraud
Ramalinga Raju admits to inflating Satyam profits. Hyderabad, Jan. 7 In perhaps one of Corporate India’s worst unfolding chapters, Mr B. Ramalinga Raju, Founder-Chairman of the $2-billion Satyam Computer Services, dramatically stepped ...
CORPORATE GOVERNANCE:
Satyam spooks market
Sensex sinks 750 points. Mumbai, Jan. 7 In a unique case of upheavals at a single company pulling down the Indian stock market, Wednesday’s disclosures by the founder-Chairman of Satyam Computer Services rocked the equities market, sending ...
CORPORATE GOVERNANCE:
‘It was like riding a tiger’
Satyam chief’s letter talks of ‘tremendous burden’ on his conscience. Following is the text of the letter Satyam Computer Services Chairman, Mr B. Ramalinga Raju, wrote to the company’s board. Copies of the letter were ...
CORPORATE GOVERNANCE:
Gupta talks tough, wants RoC to submit report on Satyam in a week
New Delhi, Jan. 7 Taking a tough stance, the Ministry of Corporate Affairs (MCA) has directed its field office to submit in a week’s time the report on the financial irregularities disclosed by the promoters of Satyam Computer ...
OUTLOOK:
The ‘Eastern’ spice route
Kerala-based Eastern Condiments hopes to add a dash of spice to the masalas market.. Kerala masalas are slowing finding flavour up North. It’s a tough grind, but Eastern Condiments, having made a name in the South, hopes to penetrate the ...
CORPORATE GOVERNANCE:
‘Corporate governance is about principles, mindset’
Adverse impact on Indian vendors unlikely: Narayana Murthy. Bangalore, Jan. 7 The Chairman and Chief Mentor of Infosys Technologies Ltd, Mr N.R.Narayana Murthy, who has led key corporate governance initiatives in the country, feels that ...
AUDITING:
Price Waterhouse hides behind client confidentiality
ICAI to probe role of statutory auditor. New Delhi, Jan. 7 Close on the heels of Satyam Computer Services Chairman, Mr Ramalinga Raju’s admission of revenue overstatement and inflated profits, the Institute of Chartered Accountants of ...
ECONOMIC OFFENCES:
Kenneth Raju Lays himself off
In movies, as in novels, the second half is always more riveting. The unfolding Satyam saga promises much the same with the second round of revelations — contained in what appears to be a mea culpa by its chairman Ramalinga ...
CORPORATE GOVERNANCE:
Chronology of a downfall
...
AUDITING:
Whither the auditors?
India’s version of Enron has finally happened. Satyam-Gate had to occur in the IT industry since the largest numbers in terms of investments, revenues and profits over the years have come from this ...
AUDITING:
There is a hole in my books, dear investor
We have just come to know of a gap in Satyam’s financial statements. For the first time in living memory, an iconic company in India is facing collapse because of financial reporting failure. The shocking revelations about ...
CORPORATE GOVERNANCE:
Amid the success, the truth was elsewhere
THE HOUSE THAT RAJU BUILT. Hyderabad, Jan. 7 After a steady journey of 20 years, from an early start-up in Hyderabad to a global $2.5 billion corporation, Satyam Computer has, in a dramatic turn of events, landed itself at the crossroads, with ...
CORPORATE GOVERNANCE:
Shocked at Satyam affair, chambers call for blocking corporate loopholes
Biz bodies say move to stop erosion of confidence necessary. Hyderabad/New Delhi, Jan. 7 India Inc has expressed shock and disbelief at the Satyam episode, stating that loopholes must be plugged in regulation, audit and governance to restore the ...
CORPORATE GOVERNANCE:
Industry seeks thorough probe
‘Due diligence will get tougher, efficiency to be hit’. Chennai/Bangalore, Jan. 7 Peers of Satyam Computers such as Infosys, Wipro and Cognizant are shocked and dismayed over Wednedsay’s revelations of chairman Mr B. ...
CORPORATE GOVERNANCE:
Satyam’s smaller businesses ‘still attractive’
Mumbai, Jan. 7 The sensational disclosures of Satyam’s Chairman Mr B. Ramalinga Raju could deter competitors and private equity firms from looking at the Hyderabad-based company as a target for ...
CORPORATE GOVERNANCE:
Forrester sees delay in sales cycle
Advisors anticipate large-scale client exodus from Satyam. New Delhi, Jan.7 The Satyam scandal, which has shaken up corporate India, could not have come at a worse time for the troubled Indian IT ...
CORPORATE GOVERNANCE:
‘Unjustifiable damage to Brand India, Brand IT’
Mumbai, Jan. 7 India Inc reacted with shock and dismay to the latest twist to the Satyam Computer Services episode on Wednesday when the chairman, Mr B. Ramalinga Raju, admitted to financial wrongdoing in ...
AUDITING:
Auditors role: More to it than meets the eye
Mumbai, Jan. 7 Is it possible that the auditors and board of directors of Satyam could have been unaware of what was happening in the ...
ALLIANCES & JOINT VENTURES:
M&M venture with BAE among 34 proposals cleared by FIPB
New Delhi, Jan. 7 The proposal of Mahindra and Mahindra to set up a joint venture company with BAE Systems was approved by the Foreign Investment Promotion Board (FIPB) here on ...
CORPORATE GOVERNANCE:
An enigma, hero and one with a secret agenda
Hyderabad, Jan. 7 When this correspondent sat down to interview him after Satyam Computer Services announced second quarter results on October 17, 2008, Mr B Ramalinga Raju, the Founder-Chairman, had asked, “why are markets behaving ...
CORPORATE GOVERNANCE:
Truth failed
The confessions of Mr Ramalinga Raju, Chairman of Satyam Computer Services, that he is guilty of cooking the company’s books to the tune of over Rs 7,000 crore amount to a huge fraud, perpetrated not just on the company’s ...
CORPORATE GOVERNANCE:
Shattered dreams, uncertain future
SATYAM SHOCKER. Hyderabad, Jan. 7 The bylanes next to the tall imposing building of Satyam Computer Services in the heart of the city which usually buzz with activity wore a deserted look on ...
OUTLOOK:
AP to review Maytas Infra implementation of Hyderabad Metro
Hyderabad, Jan. 7 The Rs 12,132-crore Hyderabad Metro Rail Project, being implemented by the Maytas Infra-led consortium, is to come under review of the Andhra Pradesh ...
MERGERS & ACQUISITIONS:
Sun Pharma rejects Taro’s proposal for higher offer price
Mumbai, Jan. 7 With just hours to go for the deadline set by the Israeli Supreme Court to lapse, Sun Pharmaceuticals has rejected Taro’s suggestion asking the Mumbai drug company to up its offer price to $15 ...
OUTLOOK:
MRPL not affected by strike
The operations at Mangalore Refinery and Petrochemicals Ltd (MRPL) have not been affected in spite of the strike call given by the Oil Sector Officers’ ...
CORPORATE GOVERNANCE:
Independent Directors ‘stunned’
Visakhapatnam/Hyderabad Jan. 7 The dramatic exit of Mr B. Ramalinga Raju, Chairman of Satyam Computer Services, has come as a shock to Mr T.R. Prasad, an Independent Director on the board of ...
CORPORATE GOVERNANCE:
‘Stand-alone’ case of failure: Nasscom
New Delhi, Jan. 7 The National Association of Software and Services Companies has termed Satyam incident as a ‘stand-alone’ case of failure of corporate governance, and expressed hope that it would not be viewed as a reflection on ...
CORPORATE GOVERNANCE:
Chief Minister orders CB-CID probe
New Delhi, Jan. 7 Terming the Satyam episode as “mind-boggling,” the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, today said he has ordered an inquiry into the criminal aspects of ...
COURTS/LEGAL ISSUES:
Conditional bail for Nagarjuna chief
Hyderabad, Jan. 7 The Andhra Pradesh High Court on Wednesday granted conditional bail to Mr K.S. Raju, Chairman of the Nagarjuna Group, and Mr P K Madhav, Chief Executive Officer, Maytas ...
AUDITING:
Simple manipulation of revenues & earnings
Chennai, Jan. 7 Just what exactly is the financial/accounting manipulation of Mr ...
Columnists:
•
C Gopinath
•
Harish Bijoor
•
Ramanujam Sridhar
•
Radhika Chada
•
K Srikrishna
Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line
|
|
RSS Feeds