A “True Lie” infact. Ironically, Satyam means truth. Chairman and promoter Ramalinga Raju confessed that the Hyderabad based Satyam Computers has been lying to its shareholders, employees and the entire world for many years. Regarded as India’s largest ever corporate fraud, it is estimated that the scam is more than 7,000 crore.
Considered to be the fourth largest [or was the fourth largest] IT company after TCS, Infosys and Wipro, Satyam has been cheating its shareholders, employees and clients by manipulating the revenue and profit sheets and thus boosting cash inflows. Satyam has also reportedly shown interest income when actually nothing existed. Read the full story
