THE SAGA

of
 Highlights

• Satyam before the scam

• Uncovering the scam

• The after effects

 Satyam…..once upon a time…
Acquisitions:

April 08 for US35.5Mn

Jan. 08 for US35Mn

Oct. 07 for US5.5Mn

April 05 for US23.2Mn

July 05 for US3.3Mn

 Just forgery….

• Forged invoices
• Forged bank statements
• Forged FDs
• Reflected in final accounts.
• Assets and liabilities altered Q2Q
• Reflected rising income and rig share price.
 Ghost resources…..

Shell B Raju
Shell
Cos.
Cos.

Maytas Infra & Satyam

Maytas Properties
Rs.200Cr

Land

Which Employee Salary

13K ghost Banks Accounts
accounts ????
 HAWALA……
Politician

Fake invoices Lakeview

SATYAM Investments
In In
INDIA Tax exempt funds Mauritius

Land/Cash GOI

FDs

Shell Cos
How the FDs were dissolved…....a websnare..

SATYAM

B2 B3

B1

B4

Original FDs Duplicate FDs

Auditors Accountants
Stripped off…….

Golden Peacock Award 2008

US Clients – State Farm, GSK

UK Clients – Unilever, BP,

Thompson

…..the aftermath
Solving the puzzle

RoC Hyderabad
CID
SEBI

SFIO New Board Company

Law Board
THANK YOU