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Raju confesses to fraud, quits

Published January 7, 2009, 4:26 pm, Business Standard India

Disclosure after DSP Merrill Lynch discovers irregularities; Company sets up SWAT team. In one of the darkest days in India’s corporate history, Satyam Computer Services Founder and Chairman B Ramalinga Raju resigned after saying he falsified earnings and assets.

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Avid reader, Raju rewrites Satyam books - Economic Times
As Satyam unravels before a stunned India, the company?s founder chairman and man-in-the-dock Byrraju Ramalinga Raju can only hope his favourite author was right about life and checkmates. The Harvard Business School alumnus, who pioneered ...

Satyam appoints Ram Mynampati as interim CEO - Business Standard
Mynampati has been mandated by the Board to steer the company through this crisis, said a company statement. "We are obviously shocked by the contents of the letter sent by Raju to the company. The senior leaders of Satyam stand united in their ...

India's NSE to remove Satyam shares from main index - Reuters
MUMBAI, Jan 7 (Reuters) - India's National Stock Exchange said on Wednesday it will remove Satyam Computer Services Ltd ( SATY.BO )( SAY.N ) from its S&P CNX Nifty 50-share index from Jan. 12. The head of the Indian outsourcing firm resigned on ...

Raju confesses to fraud, quits - Business Standard
In one of the darkest days in India?s corporate history, Satyam Computer Services Founder and Chairman B Ramalinga Raju resigned after saying he falsified earnings and assets. The revelation comes soon after Raju was forced to reverse a decision to ...

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