Satyam Scam Explained | Corporate Scandal Case Study | Scam Stories

The Satyam scandal was a corporate scandal that occurred in India in 2009, involving the Indian IT services company Satyam Computer Services (now known as Mahindra Satyam). The company's chairman, Ramalinga Raju, admitted to falsifying the company's accounts and inflating its revenue and profits over several years. The scandal was one of the largest corporate frauds in India's history and resulted in a significant loss of investor confidence and damage to the reputation of the country's IT industry.

In the aftermath of the scandal, Raju and other senior executives were arrested and charged with a range of offenses, including fraud, cheating, and forgery. The company was eventually taken over by Tech Mahindra, which rebranded it as Mahindra Satyam.

The Satyam scandal led to calls for greater transparency and stricter corporate governance standards in India, and prompted the government to introduce new regulations to improve the oversight of listed companies.