http://www.metafilter.com/tags/satyam Posts tagged with 'satyam' at MetaFilter. Wed, 07 Jan 2009 07:57:08 -0800 Wed, 07 Jan 2009 07:57:08 -0800 en-us http://blogs.law.harvard.edu/tech/rss 60 http://www.metafilter.com/78043/Riding%2Dthe%2DIndian%2DTiger <a href="http://trak.in/tags/business/2009/01/06/satyam-head-raju-admits-fraud-letter-board-directors/">Maximum Fraud:</a> Ramalinga Raju, the Chairman of India's <a href="http://infotech.indiatimes.com/quickiearticleshow/3907991.cms">fourth largest exporter</a> of IT services, <a href="http://www.satyam.com/">Satyam Computer Services</a> has admitted to falsifying records of at least <a href="http://www.google.com/search?client=opera&rls=en&q=50,000,000,000+inr+in+usd&sourceid=opera&ie=utf-8&oe=utf-8">five thousand crore</a> rupees. Indian regulators are <a href="http://news.outlookindia.com/item.aspx?651179">horrified</a>, competitors <a href="http://timesofindia.indiatimes.com/Satyam_case_a_failure_of_governance_Murthy/articleshow/3947534.cms">shocked</a>, chaos has <a href="http://finance.google.com/finance?q=BOM:500376">ensued</a>. Satyam was audited by <a href="http://www.rediff.com/money/2009/jan/07satyam-satyam-auditors-body-to-pull-up-pwc.htm">PriceWater Coopers</a>. Since the company's stock is traded on <a href="http://finance.google.com/finance?q=NYSE:SAY">NASDAQ</a> and Euronext, there are <a href="http://en.wikipedia.org/wiki/Sarbanes-Oxley_Act">judicial consequences</a> in the US and Europe as well, in addition to a possible <a href="http://economictimes.indiatimes.com/articleshow/3948025.cms">jail term</a> in India. This admission comes in the wake of an aborted <a href="http://www.rediff.com/money/2008/dec/22maytas-deal-impact-on-the-companies.htm">deal</a> for two infrastructure-related companies owned by the chairman's family, a public <a href="http://www.thehindubusinessline.com/2008/10/12/stories/2008101251290200.htm">censure</a> from the World Bank (with possible <a href="http://www.itexaminer.com/facts-are-unclear-in-satyam-world-bank-row-.aspx">corruption</a>) and a $1.6 billion <a href="http://www.livemint.com/2008/12/19223405/Upaid8217s-suit-compounds-S.html">lawsuit</a>. tag:metafilter.com,2009:site.78043 Wed, 07 Jan 2009 07:57:08 -0800 5000000000000 newsfilter satyam the cydonian