Satyam Scam Explained | Satyam Fraud Case Study

Hey Everybody, this video is about one of the biggest-ever corporate accounting scam in India. Satyam computer services ltd was started in 1987 in Hyderabad by the Raju brothers, Rama Raju and Ramalinga Raju.

Tensions started when the brothers decided to merge with the company called Maytes. The merger of the two companies gave rise to various legal issues in this case. B Ramalinga Raju confessed to a huge financial manipulation to the tune of Rs 50.4 billion in Satyam’s books of account.

A web of 356 investment companies was used to allegedly divert funds from Satyam. The Government and SEBI took various steps to tighten the grip on such offenders. They brought several new regulations under the Companies Act of 2013. Now, companies are obliged to change their auditors every 10 years.

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