TABLE OF CONTENT

INTRODUCTION

1.1 Back ground & purpose of research Study -------------------------------------------------

1.2 Internal & External Environment (SWOT Analysis) -------------------------------------

1.3 Purpose--------------------------------------------------------------------------------------------

1.4 Problem Statement -----------------------------------------------------------------------------

1.5 Definition of Research Question -------------------------------------------------------------

1.6 Research Questions -----------------------------------------------------------------------------

2. Literature review (secondary data)------------------------------------------------------

2.1 Introduction to the research topic------------------------------------------------------------

2.2 Definition of the main concepts -------------------------------------------------------------

2.3 Types of Corporate Crime ---------------------------------------------------------------------

2.4 Why do companies involve in Corporate Crime -------------------------------------------

2.5 Effect of Corporate crime on Financial Market --------------------------------------------

2.6 How to avoid risk from the CC --------------------------------------------------------------

3. COMPANY

3.1 Presentation of the case company ------------------------------------------------------------

3.2 Introduction of the company ------------------------------------------------------------------

3.3 Mission Statement -------------------------------------------------------------------------------

3.4 Milestones -----------------------------------------------------------------------------------------

3.5 Investors -------------------------------------------------------------------------------------------

3.6 Stakes ----------------------------------------------------------------------------------------------

3.7 Competitors ---------------------------------------------------------------------------------------

4.0 METHODOLOGY USED FOR COLLECTING PRIMARY DATA-------------------------

4.1 RESEARCH METHOD USED & JUSTIFICATION --------------------------------------------

4.2 PRIMARY DATA -------------------------------------------------------------------------------------

4.3 TABLE COMPARING THE SHARE VALUES OF SATYAM & WIPRO -----------------

4.4 GRAPH -------------------------------------------------------------------------------------------------

4.5 RESEARCH ANALYSIS ----------------------------------------------------------------------------

4.6 RECOMMENDATION -------------------------------------------------------------------------------

5.0 CONCLUSION ----------------------------------------------------------------------------------------

5.1 Research limitation -----------------------------------------------------------------------------------

5.2 Research implication ----------------------------------------------------------------------------------

6.0 LIMITATIONS OF THE STUDY ------------------------------------------------------------------

7.0 REFERENCES ------------------------------------------------------------------------------------------

Table

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 ABSTRACT

Corporate Crime is an organized crime of an individual employee acting on behalf of the

corporation is now the main obstacle for investors to invest in India. This study examines the
impact of organized crime on India’s capital market through stakeholders like International and
domestic investors. Who lose money in scandals more risk averse afterwards and are the
companies involved in scandals more profitable than others? Capital market has been globally
acknowledged as one of the main driving forces for the growth of modern national economy in
this era of globalization. It provides an avenue for both local and international potential investors
to access the wealth of a particular market through buying and selling of financial instruments
such as shares, bonds, etc. One of the basic requirements for the market to attract investors is that
it must be seen to operate under certain level of transparency built on trust and integrity. The
findings of this study reveals that, the cumulative effects of crime taking place within the India’s
capital market is seriously having negative impact on its development and the national economy.
It is therefore the position of the paper that regulatory agencies of the market should co-operate
with one another to ensure that perpetrators of the crime who are indicated or found to have
committed such crime in a particular sector are not allowed to cooperate in another sub-sector of
the economy
 INTRODUCTION
BACKGROUND AND PURPOSE OF RESEARCH STUDY

Satyam computer service Limited with 185 fortune 500 companies operating in 66 countries, is a
global consulting and IT Service Company founded in June 24, 1987, offering a wide array of
solutions – Strategy consulting right through to implementing IT solutions for customers, which
ranked top position on National Stock exchange, Bombay Stock exchange & Newyork Stock
exchange.

Company’s main focus is software development, packaged software integration and engineering
design services

Table: 1 INTERNAL ENVIRONMENT ( SWOT analysis)

Strength Weakness

 Global Presences  Future productivity

 Comprehensive range of services –  Lack of decision making

Application development, maintenance

services, consulting &enterprise business

solutions, Infrastructure management

 BPO services through its Nipuna services

 High skilled staff

 METHODOLOGY
Research Method used & Justification

Due to confidentiality of the information and limited access this research was carried by taking
the serious of share values over a period of year from 2001 till the scam broke of the Satyam
computer’s and its competitor Wipro to compare the share values and analyze company behavior
and financial situation. Graphs are drawn accordingly comparing the data.

Data collection

PRIMARY DATA:

Primary data was extracted from financial newspapers (The Financial Times), Google financial
docs, which publishes the monthly, yearly reports and shares of the companies. All the share
details like share price / high price, low price, open price and volume was collected and
compared with the help of graphs over a period from April 1999 till 2010 March

SECONDARY DATA:

Secondary data was collected from one of the leading financial service based MNC in
Hyderabad, Telangana state, India which audited Satyam & Wipro accounts. The Manager wants
his name and company name to kept confidential as this information is very vital could cause
risk for his job and confidentiality. He was able to provide the share values of Satyam and wipro

Research Analysis:

Analysis says
2 -LITERATURE REVIEW

(SECONDARY DATA)
 2.1- INTRODUCTION TO THE RESEARCH TOPIC

WHAT IS CORPORATE FRAUD

Corporate fraud consists of activities undertaken by an individual or company that are done
in a dishonest or illegal manner, and are designed to give an advantage to the perpetrating
individual or company. Corporate fraud schemes go beyond the scope of an employee's stated
position, and are marked by their complexity and economic impact on the business, other
employees and outside parties.

Some have argued that white-collar crime is marked by the absence of violence. But on
closer scrutiny, that distinction does not hold up. Doctors often maim patients by negligent acts
the wrong foot is amputated; a miscalculated drug dosage is administered and miners are
suffocated in a collapsed mine shaft when explosions that better foresight might have prevented
take place.

SATYAM SCAM:-
ONE OF INDIA’S BIGGEST CORPORATE FRAUD

The government vowed to strengthen laws to prevent corporate fraud after Satyam Computer, the
country's fourth-largest software company, shocked investors by revealing profits had been
falsely inflated for years. Chairman Ramalinga Raju resigned on 7th January 2009, after
revealing India's biggest corporate scandal in memory, sending the company's shares plunging
nearly 80 per cent. The following is an overview of how the fraud escaped detection for so long
and what compelled a soft-spoken man born into a family of farmers to risk all.
 PEOPLE BEHIND THIS SCAM

• RAMALINGA RAJU

• Former chairman of Satyam.

• B. RAMA RAJU

• Brother of Ramalinga Raju and former Managing Director.

• V. SRINIVAS

• Ex-Chief Financial Officer

• Price Waterhouse Auditor

• S. GOPALAKRISHNAN

• Price Waterhouse Auditor

• TALLURI SRINIVAS

• Ex-Chief Financial Officer

• Price Waterhouse Auditor

• Price Waterhouse Auditor

 DEFINITION OF THE MAIN CONCEPTS

Def: Corporate crime is a crime committed by a corporation or business entity or by

individuals who are acting on behalf of a corporation or business entity. In this example,

the corporate crime was committed by a corporation (Rite Aid). However, a corporate

crime can also be committed by someone who is employed by a corporation if the crime

benefits the organization

Fraud by high level corporate officials became a subject of wide national attention during

the early 2000s, as exemplified by corporate officer misconduct at Enron. It became a

problem of such scope that the Bush Administration announced what it described as an

"aggressive agenda" against corporate fraud.[7] Less widely publicized manifestations

continue, such as the securities fraud conviction of Charles E. Johnson Jr., founder of

PurchasePro in May 2008.[8] FBI Director Robert Mueller predicted in April 2008 that

corporate fraud cases will increase because of the subprime mortgage crisis.

 To Understand Corporate Frauds and analyze its implications for businesses based on the
Satyam scam 2009.

 To debate and suggest on the possible ways and means to arrest corporate fraud menace
in India and to examine the efficacy of the steps already taken

A hoax is a distinct concept that involves deliberate deception without the intention of
gain or of materially damaging or depriving a victim.
As a civil wrong In common law jurisdictions, as a civil wrong, fraud is a tort. While the precise.
Definitions and requirements of proof vary among jurisdictions, the requisite elements of

fraud as a tort generally are the intentional misrepresentation or concealment of an important fact

upon which the victim is meant to rely, and in fact does rely, to the harm of the victim.[3] Proving

fraud in a court of law is often said to be difficult. That difficulty is found, for instance, in that

each and every one of the elements of fraud must be proven, that the elements include proving

the states of mind of the perpetrator and the victim, and that some jurisdictions require the victim

to prove fraud by clear and convincing evidence.

The remedies for fraud may include rescission (i.e., reversal) of a fraudulently obtained

agreement or transaction, the recovery of a monetary award to compensate for the harm caused,

punitive damages to punish or deter the misconduct, and possibly others.

However, 2014 was also a year of trouble for Rite Aid. Rite Aid Corporation was required to pay

the United States 2.99 billion dollars for violating the False Claims Act by using gift cards as

illegal inducements to get individuals on Medicare and Medicaid to switch their prescriptions to

Rite Aid pharmacies. In other words, the United States government felt that Rite Aid was using

the gift cards improperly as a means to influence the healthcare decisions of Medicaid and

Medicare recipients. In this example, Rite Aid committed a corporate crime.

 TYPES OF CORPORATE CRIME

TYPES OF WHITE COLLAR CRIMES

White collar crimes also tend to involve sophisticated methods to accomplish the crimes.
White collar crimes may involve counterfeit currency, complex accounting practices that are
implemented to cause embezzlement, identity theft based on phishing and other crimes that
require the use of technology, expertise or inside information. There are a wide variety of
white collar crimes, including the following:
Fraud
Fraud is one of the most common types of white collar crimes. Fraud cases often involve the
perpetrator imitating someone else in order to take funds out of the real owner’s bank
account. Fraud may help a perpetrator commit identity theft.
Bribery
Another common form of a white collar crime is bribery. In bribery cases, the perpetrator
pays someone in a power position in order to make arrangements that financially benefit the
perpetrator or others. For example, a perpetrator may pay a government official. It is often
hard for federal regulators to prove and prosecute.
Insider Trading
Another common white collar crime is that of insider trading. Insider trading involves people
using connections that they have on the inside to buy or sell stock before the relevant
information is made public. For example, someone who knows that a company may be facing
a lawsuit or a layoff may decide to sell stock before the information is released in order to
sell at a higher rate. Conversely, a person may wait to buy until the bad news hits in order to
purchase at a lower price. In contrast to some other white collar crimes, regulators have
become increasingly savvy ate detecting certain trades that seemed to be based on tipped off
information. It may be difficult for a person to hold onto stock knowing that this may
ultimately mean losing money when they have confidential information.
Cyber Crime
Due to the internet, an increasing cause of white collar crimes is due to cyber crime. This

type of crime involves collecting credit card numbers and personal identifying information

through the use of computers. Some nations even use sophisticated attacks in order to

discover classified information that other countries are attempting to hide. Some individuals

or nations may make viruses that infect vulnerable computers and send spam or perform

other tasks that may help generate funds.

Legal Assistance

If a person is convicted of a white collar crime, he or she may face serious penalties

including years behind bars. Federal prosecutors may spearhead such cases, who often have

extensive resources at their disposal. In order to provide an effective defense against such

allegations, a suspect may decide to contact a criminal defense lawyer of their choice. A

criminal defense lawyer can help a defendant avoid doing things that may adversely affecting

their case, such as talking to prosecutors voluntarily without legal representation. Hiring a

criminal defense lawyer can help individuals get ahead of aggressive government

enforcement often experienced by individuals under scrutiny by federal regulators.

 WHY DO COMPANIES INVOLVE IN CORPORATE CRIME -

In criminology, corporate crime refers to crimes committed either by a corporation (i.e., a

business entity having a separate legal personality from the natural persons that manage its
activities), or by individuals acting on behalf of a corporation or other business entity (see
vicarious liability and corporate liability). For the worst corporate crimes, corporations may face
judicial dissolution, sometimes called the "corporate death penalty", which is a legal procedure in
which a corporation is forced to dissolve or cease to exist.

Some negative behaviours by corporations may not actually be criminal; laws vary between
jurisdictions. For example, some jurisdictions allow insider trading.

Corporate crime overlaps with:

white-collar crime, because the majority of individuals who may act as or represent the interests
of the corporation are white-collar professionals;

organized crime, because criminals may set up corporations either for the purposes of crime or as
vehicles for laundering the proceeds of crime. The world's gross criminal product has been
estimated at 20 percent of world trade. (de Brie 2000); and

state-corporate crime because, in many contexts, the opportunity to commit crime emerges from
the relationship between the corporation and the state.

Behavior can be regulated by the civil law (including administrative law) or the criminal law. In
deciding to criminalize particular behavior, the legislature is making the political judgment that
this behavior is sufficiently culpable to deserve the stigma of being labelled as a crime. In law,
corporations can commit the same offences as natural persons. Simpson (2002) avers that this
process should be straightforward because a state should simply engage in victimology to
identify which behavior causes the most loss and damage to its citizens, and then represent the
majority view that justice requires the intervention of the criminal law. But states depend on the
business sector to deliver a functioning economy, so the politics of regulating the individuals and
corporations which supply that stability become more complex. For the views of Marxist
criminology, see Snider (1993) and Snider & Pearce (1995), for Left realism, see Pearce &
Tombs (1992) and Schulte-Bockholt (2001), and for Right Realism, see Reed & Yeager (1996).
More specifically, the historical tradition of sovereign state control of prisons is ending through
the process of privatisation. Corporate profitability in these areas therefore depends on building
more prison facilities, managing their operations, and selling inmate labor. In turn, this requires a
steady stream of prisoners able to work. (Kicenski: 2002)

Bribery and corruption are problems in the developed world, and the corruption of public
officials is thought to be a serious problem in developing countries, and an obstacle to
development.

Edwin Sutherland's definition of white collar crime also is related to notions of corporate crime.
In his landmark definition of white collar crime he offered these categories of crime:

Misrepresentation in financial statements of corporations

Manipulation in the stock market

Commercial bribery

Bribery of public officials directly or indirectly

Misrepresentation in advertisement and salesmanship

Embezzlement and misappropriation of funds

Misapplication of funds in receiverships and bankruptcies (O'Grady: 2011).

Corruption and the private sector review

One paper discusses some of the issues that arise in the relationship between private sector and
corruption. The findings can be summarized as follows:

They present evidence that corruption induces informality by acting as a barrier to entry into the
formal sector. Firms that are forced to go underground operate at a smaller scale and are less
productive.
Corruption also affects the growth of firms in the private sector. This result seems to be
independent of the size of the firm. A channel through which corruption may affect the growth
prospects of firms is through its negative impact on product innovation.

SMEs pay higher bribes as percentage of revenue compared with large companies and bribery
seems to be the main form of corruption affecting SMEs.

Bribery is not the only form of corruption affecting large firms. Embezzlement by a company's
own employees, corporate fraud, and insider trading can be very damaging to enterprises too.

There is evidence that the private sector has as much responsibility in generating corruption as
the public sector. Particular situations such as state capture can be very damaging for the
economy.

Corruption is a symptom of poor governance. Governance can only be improved via coordinated
efforts among governments, businesses, civil society
 EFFECT OF CORPORATE CRIME ON FINANCIAL MARKET

Capital market has been globally acknowledged as one of the main driving forces for the growth

of modern national economy in this era of globalization and liberalization. It provides an avenue

for both local and international potential investors to access the wealth of a particular country

through buying and selling of financial instruments such as shares, bonds, etc. One of the basic

requirements for the market to attract investors is that it must be seen to operate under certain

level of transparency built on trust and integrity This paper examines the impact of corporate

crime within the Nigeria's capital market and its attendant effects on the national economy. The

findings of the study reveals that, the cumulative effects of crime taking place within the

Nigeria's capital market is seriously having negative impact on its development and the national

economy. It is therefore the position of the paper that regulatory agencies of the market should

cooperate with one another to ensure that perpetrators of the crime who are indicted or found to

have committed such crime in a particular sector are not allowed to operate in another sub- sector

of the economy.

HOW TO AVOID RISK FROM THE CORPORATE CRIME

Tip System

Surprisingly, tips were the most common method of discovery for fraud. 40% of cases were
detected by a tip. Organizations with hotlines get the most tips, have 41% less costly fraud cases
and detect perperators 50% more quickly. If you are too small for a hotline, don’t fret, tips also
come regularly from fellow employees, customers and vendors (in order of prevalence).

Be sure to set-up an easy and anonymous tip system for employees, vendors and customers.
Make this easy to find and apparent in the work environment.
Encourage a culture of honesty. Vanessa does trainings for small and large companies around the
world on improving their human capital and creating a culture of honesty.

2. Data-Mining

If you are a technology based company. Consider doing proactive data monitoring. Companies
who had data monitoring systems had 60% less costly fraud cases and 50% shorter duration.

3. Recognize Behavioral Traits

Occupational fraudsters exhibit certain specific behavioral traits that are early warning signs for
colleagues and employers. In 92% of cases reviewed there was one common behavioral red flag
that was identified before fraud was confirmed. Managers and employees should be trained to
recognize warning signs.
 1. COMPANY

1.1 Presentation of the case company ------------------------------------------------------------

1987

- On 24th June company was incorporated as a Private Limited Co. for providing Software
Development and Consultancy Services to large corporations. The company was promoted by B
Rama Raju and B Ramalinga Raju. The company has set up two software Technology Parks, one
at Mayfair Centre, Secunderabad and other at Qutuballapur of Ranga Reddy Dist. of A.P. The
company also developed a software Development center in Bangalore.

- The company is a 100% EOU under the STP scheme of the Dpt. of Electronics Government of
India and exports software to USA, Canada, Sweden and Germany etc.

1991

- On 26th August it was converted into a Public Limited Company.

1992

- The Company went in for a Public Issue of Equity shares. The company has set up facilities at
Secunderabad, Hyderabad and Bangalore. The Company has created infrastructural facilities
consisting of workstations with modern communication and networking equipment.

- Satyam went in for a public issue of equity shares with the main objective of setting up a
software technology park and a 100 percent export oriented unit for software development with a
dedicated 64 KBPS satellite link.

1993

- During the year company has entered into a joint venture agreement with Dun & Bradstrret
Corp., U.S.A. for development of softwares.

1994

- On January 26th a joint venture company called Dun & Bradstreet Satyam Software (P) Ltd.

1995

- During the year company issued 37,17,000 12% unsecured fully convertible debentures part
"A" of Rs.100 each on right basis for the shareholders in proportion of 1 FCD for every 5 shares
held. The company also issued 37,17,000-12% FCD's-part `B' Rs.60 per debentures in August
which can be converted into equity shares of Rs.10 each at premium of Rs.50 per share on
August 1996.
1996

- During the year Two offices were set up, one in USA and other in Japan. And the company has
added new business partners in Australia, Canada, Japan and Europe.

- During the year company promoted 4 subsidiaries. Viz Stayam Renaissance Consulting Ltd.,
Satyam Enterprise Solutions Pvt. Ltd., Stayam Infoway Pvt. Ltd and Satyam Infoway Pvt. Ltd.

1997 - During the year company has added additional space in Secunderabad and Bangalore.
And new software development centers were opened in Hyderabad, Pune, Chennai and
Bhubaneswar during the year. The company has established a school at Indian Institute of
Information Technology at Hyderabad, joining a select band of global corporations like IBM,
Microsoft and oracle who are also participating in IIIT's activities.

- Satyam Computer Services Ltd. (SCSL), the Hyderabad-based software company, setting up
three more new software development centres at Chennai, Pune and Bhubaneshwar.

- Satyam Infoway (P) Ltd. (SIL), a subsidiary of Satyam Computers, has signed an agreement
with Sterling Commerce, International Group of the U.S. to provide electronic data interchange
(EDI) and other value added electronic commerce solutions throughout India.

- Two new offices have already been set up in the US, and another in Japan. New business
partners have been added in Australia, Canada, Japan and Europe.

- Satyam Infoway is a 100 per cent subsidiary of the Hyderabad-based software major, Satyam
Computer Services Ltd.

- Dun & Bradstreet Corp. USA (D&B), is likely to buy out the 24 per cent stake of joint venture
partner Satyam Computers Services and gain majority control, 76 per cent of the stake is held by
D&B.

- The joint venture was set up to provide software services to D&B clients world wide. Dun and
Bradstreet - Satyam Software is the largest single location software unit for D&B in the world.
- Satyam Computer has four subsidiaries: Satyam Spark Solutions, Satyam Infoways, Satyam
enterprise Solutions and Satyam Renaissance, Consulting, Spark solutions focuses on software
products, Infoways operates in the field of electronic commerce and electronic data interchange.

- Satyam Computer Services Ltd announced that it had divested its 24 per cent ownership of Dun
& Bradstreet Satyam Software Pvt Ltd (DBSS) in favour of Cognizant Software Solutions
Corporation, a subsidiary of Cognizant Corporation, US.

- Satyam Computer Services Ltd., has been selected by the Switzerland-based World Economic
Forum and World Link magazine as one of India's most remarkable and rapidly growing
entrepreneurial companies.

- The funds will be raised through a Rs 20 crore debt and the rest will be provided by the parent
company as equity in the subsidiary to set up the nationwide network.

1998

- Satyam Infoway, a wholly-owned subsidiary of Satyam Computer Services Ltd., has received
the Technical Engineering Centre (TEC) approval from the Department of Telecommunications
(DoT) for commercialising its operations.

- The company is a 100 percent EOU under the software technology park scheme of the
Department of Electronics, Government of India. It is presently engaged in development and
export of software to USA, Canada, Sweden, Germany etc. - Satyam Computer Services Ltd.
opened its first overseas development centre in New Jersey. The company proposes to set up
seven such development centres outside India, four of them in the US.

- Satyam Computer Services Ltd. has entered into an agreement with the National Securities
Depository Ltd. (NSDL) for providing its shareholders with the facility of trading in the
dematerialised form of shares.

1999

- The company is setting up offsite development centres which will have high margin business
and also ventured into the euro conversion business which is slowly taking-off.

- Sataym Computer Services Ltd. will be setting up two offsite development centres in addition
to the existing seven centres across the world.
- Satyam Computer Services Ltd., one of the fastest growing IT companies in the country, has
taken significant decisions recently including the merger of three of its subsidiaries with the
parent company and a 1:1 bonus issue.

- The company has also set up India's first Indian Institute of Information Technology and is the
first software company in India to get accredited by (SEI CMM) level 5 certificates.

- Satyam Infoway Ltd, is the second largest Internet services provider in India based on the
number of customers.

2000

- Vision-Compass Inc., the US-based wholly owned subsidiary of Satyam Computer Services
Ltd., announced the global launch of VisionCompass, a collaborative enterprise management
software product.

- The Company has entered into an agreement with Venture Global Engineering LIC, USA, to
set-up a 50:50 joint venture for the software development of CAD/CAM/CAE at Hyderabad.

- The Company launched an organisation-wide transformation training programme - Customer-

Oriented Global Organisation (COGO) initiative.

- The Company has announced its tie-up with Vignette Corporation of the US for the
implementation of e-business applications.

- Satyam Computer Services signed an equal joint venture with $6.3 bn US networking company
Computer Associates Inc (CA) to set up an Application Service Provider (ASP) for small and
medium enterprises.

- The Company and Texas-based Exterprise Inc, a major provider of collaboration platform
software for e-markets.
- Pepsi has entered its second cyberspace venture forging a tie-up with the company and
Hindustan Petroleum Corporation as the official beverages supplier for their "Speednet project".

- SAS Institute India, a wholly owned subsidiary of the US-based SAS Institute Inc., has tied up
with the company as a SAS quality partner to provide comprehensive data warehousing and data
mining solutions to various industry verticals.

- The Company has formed a strategic alliance with Microsoft Corporation to provide Web and
enterprise integration application deployment solutions to US public sector customers utilising
Windows DNA 2000 technology.

MISSION STATEMENT

- Mr. B. Ramalinga Raju, Chairman of Satyam Computer Services, has been awarded the
IT Man of the Year 2000 Award by Dataquest.

- Satyam Computer Services has acquired 23 acres in Bangalore to set up a new software
development centre.

2001

- The Company has entered into a long-term collaboration agreement with Centre for Cellular
and Molecular Biology, to jointly identify business opportunities at the global level for IT-
enabled services in bioinformatics and related fields.

- The Company has entered into a partnership with i2Technolgies.

- Satyam Computer Services Ltd., the software services company based in Hyderabad, is set to
commission its new development centre in the Dubai Internet City.

- The Company has been rated as one of the 10 most well-regarded companies in the country in
prestigious 2000/2001 Review 2000 Survey conducted by the Hong Kong-based Far Eastern
Economic Review.

- Satyam Computer Services has become the first of the top Indian software services companies
to open its facility at Dubai Internet City.
- The Company has won the Frost & Sullivan market engineering award for Competitive
Strategy 2001 in the application service provider category. - The American depositary shares
(ADS) of Satyam Computer Services on May 16 was listed at $11.16 on the New York Stock
Exchange (NYSE) at a premium of 14.9 per cent to the offer price.

- Satyam Computer Services, has expanded its partnership with the US-based Healthaxis Inc., a
leading supplier of healthcare technology solutions. Satyam has also agreed to become the
primary integration partner for deploying the Insur-Enroll solution. Satyam bagged a major
project from Healthaxis in the last quarter.

- Satyam Computer Services on August 27 announced a global strategic alliance with SEEC Inc.,
a Pittsburgh-based leading provider of component and web services solutions for insurance and
other industries.

2002

- Satyam Computer Launches operations in China.

-Satyam Computer Services Ltd a leading global IT services firm, on August 8, 2002 announced
the signing of an agreement with Saint-Gobain Abrasives, Inc a Massachusetts (USA) based
corporation to provide IT services.

-Satyam Computer Services Ltd has entered into a Premier Partnership with Ireland-based
IONA®, a leading e-Business Platform provider for Web Services Integration, to deliver the
Orbix E2A Web Services Integration and Application Server Platforms.

-Nipuna Services Ltd, the BPO subsidiary of Satyam Computer Services Ltd announced the
appointment of Mrs Ram Ramasundar as COO of the company.Further the company has also
appointed Venkaswamy Nagendra as Chief Marketing Officer and M Satyanarayana as Chief
Marketing Officer of the company.

2003
-Jurong Technologies appoints Satyam Computer for State-of-the-Art Enterprise Resource
Planning Solution

-Embarks on an organisational and business transformation initiative termed Orbit 5

-Giga Information Group includes Satyam Computer Services Ltd. as the top choice for SAP
support among offshore service providers

-World Bank gives outsourcing contract to Satyam Services

-Satyam and Ansys Inc Forge Global Strategic Alliance, Offer Process Integrated Engineering
Simulation Solutions

-Enters into strategic alliance with semiconductor major Texas Instruments to provide consulting
services for DSP (digital signal processing) customers

-Satyam Computer & Correlate Technologies announce partnership to provide Correlate K-Map
solutions worldwide

-Sets up Offshore Solutions Center for TRW Automotive in Chennai

-Satyam, Hummingbird open ETL/BI competency centre in Singapore

-Satyam unveils Samanvay to create learning opportunities to staff families

-Satyam & Microsoft sign MOU to provide world class IT outsourcing services to Asia Pacific
region
-Launches Global Solutions Centre in Malaysia

-Conducts first ever global customer summit (SatyamWorld) In San Diego, California, USA

-Forms alliance with Yahoo, a leading portal and collaboration platform provider, to deliver
solutions centered on Yahoo! Portal and Messenger platforms

-Bags 2003 Account Performance Award from Strategic Account Management Association
(SAMA) during its annual conference in Orlando, Florida

-Implements SAP at Oman Trading Establishment

-Signs up a long term contract with World Bank

-Satyam's solution bags CSI National IT Award for best packaged application

-Approves enhancement of investment limit by Foreign Institutional Investors (FII's) under

Portfolio Investment Scheme from 49% to 60%

-Commences a Student Administration System (SAS) solution implementation for Singapore-

based Universitas 21 Global (U21G), a leading online university initiative, offering on-line
higher education to students all over the world

-Satyam's advanced e-Logistic Solution System for Konsortium Logistik Bhd Malaysia goes live
-Launches Offshore Development Center (ODC) in Bangalore to provide high end product
development support to Fujitsu Ltd., a leading provider of customer focused IT and
communication solution for the global marketplace

-Developes a virtual facility in the 120-acre technology campus located in Hyderabad

-Warburg Pincus, a venture capital & equity fund, sells 2.6% Satyam shares

-Allottment of 11533 equity shares through circular resolution on October 28, 2003 under stock
option plans of the company.

-The company has developed a virtual facility in the 120-acre technology campus located in
Hyderabad. Satyam Live captures the soft infrastructure, the products etc. of a knowledge driven
company.

- The Compensation Committee of Directors of the company allotted 3507 equity shares

-Allotted 24271 equity shares through circular resolution on October 28, 2003 under stock option
plans of the company.

-Company has signed a multi-year agreement with American International Technology

Enterprises, Inc.

-The company has sold 1m equity shares of Sify in a private placement through Sify's sponsored
ADR programme.

-The company sells its sify stake to Venturre tech increasing venture tech's stake to 16.8 per cent
from 13.8 per cent.
-Satyam Computer Services honoured with prestigious IBM Lotus award

-Satyam acquires Megasoft in stock deal

-Satyam's new development centre in Canada

-Fidelity Investments buys 245,500 equity shares of the company, stake increases to 5.05%

-Signs a regional partnership with the Nasdaq-listed Actuate Corporation, an enterprise reporting
applications provider, to collaborate in the Asia Pacific region. Following this move, the Satyam-
Actuate Centre of Excellence will be set up at Satyam's Global Solutions Centre in Cyberjaya,
Malaysia

2004

-Satyam's Nipuna appoints new CEO & COO

-Satyam Computer Services Ltd has entered into a tie-up with OATSystems Inc of the US to
provide comprehensive radio frequency identification devices (RFID)-based solutions to its
customers across the globe

-IT major Satyam Computer Services Ltd (SCSL) has launched a unique platform called 'Virtue'
which will provide two-way communication between the company and the selected candidates
for employment

-Satyam Computer Services Limited on Saturday inaugurated the company’s ninth facility in
Hyderabad

-Satyam launches its largest Global Development Center outside India at Melbourne, Australia

-Satyam forges alliance with Cyclone Commerce

-Satyam Computer joins mainframe migration alliance (MMA)

2005

-Satyam enters into strategic partnership with ECG

-Satyam ranked 3rd in Corporate Governance Survey by Global Institutional Investors

-Satyam Computer launches ESA service offering on May 05, 2005.

-Satyam Computer joins Microsoft Insurance Initiative

 1.2 MILESTONES

- Satyam Infoway Ltd, is the second largest Internet services provider in India based on the
number of customers.

2000

- Vision-Compass Inc., the US-based wholly owned subsidiary of Satyam Computer Services
Ltd., announced the global launch of VisionCompass, a collaborative enterprise management
software product.

- The Company has entered into an agreement with Venture Global Engineering LIC, USA, to
set-up a 50:50 joint venture for the software development of CAD/CAM/CAE at Hyderabad.

- The Company launched an organisation-wide transformation training programme - Customer-

Oriented Global Organisation (COGO) initiative.

- The Company has announced its tie-up with Vignette Corporation of the US for the
implementation of e-business applications.

- Satyam Computer Services signed an equal joint venture with $6.3 bn US networking company
Computer Associates Inc (CA) to set up an Application Service Provider (ASP) for small and
medium enterprises.

- The Company and Texas-based Exterprise Inc, a major provider of collaboration platform
software for e-markets.

- Pepsi has entered its second cyberspace venture forging a tie-up with the company and
Hindustan Petroleum Corporation as the official beverages supplier for their "Speednet project".
- SAS Institute India, a wholly owned subsidiary of the US-based SAS Institute Inc., has tied up
with the company as a SAS quality partner to provide comprehensive data warehousing and data
mining solutions to various industry verticals.

- The Company has formed a strategic alliance with Microsoft Corporation to provide Web and
enterprise integration application deployment solutions to US public sector customers utilising
Windows DNA 2000 technology.

- The Company and TRW Inc, the US-based $17 billion company, that they have signed a letter
of intent to form a strategic alliance wherein the newly-formed joint venture would provide TRW
and other global companies both information systems and engineering services.

- The Company has signed an agreement with the US-based edatafinder.com to build a
comprehensive business intelliance e-market site that will supply more than 200 types of
business data online to organisations around the globe.

- The Company has been named a 2000 Web Business 50/50 award winner for SatyamWorld -
its corporate intranet, to become the only company to feature in this list.

- The Company has realized Rs 17012.53 lakhs net of transaction costs and tax through the sale
of 347,2000 No. of equity shares of Satyam Infosay Ltd. to the Government of Singapore
Investment Corporation Pte. Ltd.

- The Company has signed a contract with Mercator, the IT subsidiary of the UAE-based
Emirates group, to provide product maintenance and support activities for Mercator's products in
the aviation industry.
- Satyam Computer Services inaugurated an offshore development centre `Mercator Satyam
Centre' - to exclusively handle projects for the $60 million Mercator, an IT subsidiary of the
UAE based Emirates group.

- C Srinivas (Srini) Raju has resigned as the executive director of the company with effective
from September 1.

- Satyam Computer Services Ltd. and the US-based SEEC Inc have entered into a strategic
alliance to leverage the latter's tools and technology for Satyam's worldwide e-business
transformation practice.

- The Company has received the National HRD award - 2000 for outstanding contributions to
HRD.

- Satyam Computers is setting up a joint venture with the $17 billion TRW Inc, a Fortune-100
Company in the US. - The Company has relaunched its shopping channel as www.sifymall.com,
which would now offer ` celebration of value' shopping.

- Prabhu Sinha, a senior vice-president of Satyam Computer Services, received Qimpro Silver
Award for 2000-01.

- Satyam Computer Services Ltd. and Ariba Inc., a leading business to business e-commerce
platform provider have entered into an alliance.

- Satyam Manufacturing Technology, a joint venture between Satyam Computers Services and
US-based TRW, has received a $200 million contract from TRW.

- Mr. B. Ramalinga Raju, Chairman of Satyam Computer Services, has been awarded the IT Man
of the Year 2000 Award by Dataquest.

- Satyam Computer Services has acquired 23 acres in Bangalore to set up a new software
development centre.

Ltd. as the top choice for SAP support among offshore service providers

-World Bank gives outsourcing contract to Satyam Services

-Satyam and Ansys Inc Forge Global Strategic Alliance, Offer Process Integrated Engineering
Simulation Solutions

-Enters into strategic alliance with semiconductor major Texas Instruments to provide consulting
services for DSP (digital signal processing) customers

-Satyam Computer & Correlate Technologies announce partnership to provide Correlate K-Map
solutions worldwide
-Sets up Offshore Solutions Center for TRW Automotive in Chennai

-Satyam, Hummingbird open ETL/BI competency centre in Singapore

-Satyam unveils Samanvay to create learning opportunities to staff families

-Satyam & Microsoft sign MOU to provide world class IT outsourcing services to Asia Pacific
region

-Launches Global Solutions Centre in Malaysia

-Conducts first ever global customer summit (SatyamWorld) In San Diego, California, USA

-Forms alliance with Yahoo, a leading portal and collaboration platform provider, to deliver
solutions centered on Yahoo! Portal and Messenger platforms

-Bags 2003 Account Performance Award from Strategic Account Management Association
(SAMA) during its annual conference in Orlando, Florida

-Implements SAP at Oman Trading Establishment

-Signs up a long term contract with World Bank

-Satyam's solution bags CSI National IT Award for best packaged application

-Approves enhancement of investment limit by Foreign Institutional Investors (FII's) under

Portfolio Investment Scheme from 49% to 60%

-Commences a Student Administration System (SAS) solution implementation for Singapore-

based Universitas 21 Global (U21G), a leading online university initiative, offering on-line
higher education to students all over the world

-Satyam's advanced e-Logistic Solution System for Konsortium Logistik Bhd Malaysia goes live

-Launches Offshore Development Center (ODC) in Bangalore to provide high end product
development support to Fujitsu Ltd., a leading provider of customer focused IT and
communication solution for the global marketplace

-Developes a virtual facility in the 120-acre technology campus located in Hyderabad

-Warburg Pincus, a venture capital & equity fund, sells 2.6% Satyam shares

-Allottment of 11533 equity shares through circular resolution on October 28, 2003 under stock
option plans of the company.
-The company has developed a virtual facility in the 120-acre technology campus located in
Hyderabad. Satyam Live captures the soft infrastructure, the products etc. of a knowledge driven
company.

- The Compensation Committee of Directors of the company allotted 3507 equity shares

-Allotted 24271 equity shares through circular resolution on October 28, 2003 under stock option
plans of the company.

-Company has signed a multi-year agreement with American International Technology

Enterprises, Inc.

-The company has sold 1m equity shares of Sify in a private placement through Sify's sponsored
ADR programme.

-The company sells its sify stake to Venturre tech increasing venture tech's stake to 16.8 per cent
from 13.8 per cent.

-Satyam Computer Services honoured with prestigious IBM Lotus award

-Satyam acquires Megasoft in stock deal

-Satyam's new development centre in Canada

-Fidelity Investments buys 245,500 equity shares of the company, stake increases to 5.05%

-Signs a regional partnership with the Nasdaq-listed Actuate Corporation, an enterprise reporting
applications provider, to collaborate in the Asia Pacific region. Following this move, the Satyam-
Actuate Centre of Excellence will be set up at Satyam's Global Solutions Centre in Cyberjaya,
Malaysia

2004

-Satyam's Nipuna appoints new CEO & COO

-Satyam Computer Services Ltd has entered into a tie-up with OATSystems Inc of the US to
provide comprehensive radio frequency identification devices (RFID)-based solutions to its
customers across the globe

-IT major Satyam Computer Services Ltd (SCSL) has launched a unique platform called 'Virtue'
which will provide two-way communication between the company and the selected candidates
for employment

-Satyam Computer Services Limited on Saturday inaugurated the company’s ninth facility in
Hyderabad
-Satyam launches its largest Global Development Center outside India at Melbourne, Australia

-Satyam forges alliance with Cyclone Commerce

-Satyam Computer joins mainframe migration alliance (MMA)

2005

-Satyam enters into strategic partnership with ECG

-Satyam ranked 3rd in Corporate Governance Survey by Global Institutional Investors

-Satyam Computer launches ESA service offering on May 05, 2005.

-Satyam Computer joins Microsoft Insurance Initiative

-Satyam Computer enters into global alliance agreement with Meridian Systems.

-Satyam Computer launches business solutions laboratory, FUTURUS

-Satyam Computer Services Ltd and Miebach Logistics Group, a Frankfurt, Germany-based
logistics solutions provider, on Nov 15 announced a services and technology collaboration to
offer supply chain solutions to customers in the Asia Pacific region across industry verticals.

-Satyam foray into strategic partnership with Chinese firm

-Satyam & eBao Tech forms strategic alliance to jointly promote new generation insurance
package software solutions

2006

-Satyam receives AS9100 / EN9100 certification for its aerospace domain

-Satyam Computer achieves SEI CMMI Level 5 enterprise wide

-Satyam Computer launches Offshore Development Center for INVISTA in Bangalore

-Satyam Computer Services Ltd on October 26, 2006 has announced that it has achieved global
certification in the ISO 9001 (quality management), ISO 20000 (information technology service
management for Infrastructure Management Services and Network & Systems), and ISO 27001
(Information Security Management) standards. With the successful audit of the development
center at Budapest, Hungary, all three certifications were conferred at an organization-wide
level.

-Satyam enhances Sony Europe's IT development capacity with a dedicated offshore

development centre.

-Satyam forays into Egypt.

-Satyam Computer Services has given the Bonus in the Ratio of 1:1 2007

-Satyam Computer Services Ltd has on March 15, 2007 has announced that it has implemented
an organization-wide, virtual learning environment called Satyam Learning World.

-Satyam Computer signs multi-year deal with Applied Materials.

-Satyam Computer Services Ltd on June 04, 2007 has announced that it recently won Computer
Associates Vision, Impact, Progress (VIP) Award for an internal implementation and
optimization of CA's service desk platform.

-Satyam Computer Services Ltd on June 11, 2007 has announced that it has forged an alliance
with US-based JDA Software Group Inc., the leading provider of supply and demand chain
solutions to 5,500 of the world's top retailers, manufacturers, and suppliers.

-Satyam partners in developing Hera FxV-India's first Digital Car launched at CII Conclave.

STAKES:
Satyam and its Stakeholders
Organizations do not exist in silos; it can be even said that every organization is the sum total of

interactions between different stakeholders so as to create value for all parties involved either

directly or indirectly. In such a system of interdependencies, engagement with stakeholders is

central; however over the past few decades, stakeholder engagement has become more than just

interactions happening over the normal course of business. Engaging with stakeholders has a

greater purpose of understanding risks and opportunities associated with the social,

environmental and economic climate that a business is embedded in.

 COMPETITORS

 Wipro

 Infosys

 IBM

 Accenture
 CHAPTER-4
DATA ANALYSIS OF THE STUDY
4.3 TABLE COMPARING THE SHARE VALUES OF SATYAM COMPUTERS &
WIPRO

Wipro Satyam

Date Price High Low Ope Vol Price High Low Open Volum
n ume e
12/31/2013 279.53 280.63 233. 235. 7.24 @NA @NA @NA @NA @NA
48 5
11/29/2013 235.48 248.73 232. 238. 9.27 @NA @NA @NA @NA @NA
7 5
10/31/2013 238.48 259.75 233. 237. 18.5 @NA @NA @NA @NA @NA
65 85 6
9/30/2013 237.03 250.5 223. 242 10.9 @NA @NA @NA @NA @NA
5
8/30/2013 241.95 247.5 213. 219. 8.52 @NA 116.4 115.3 115.3 0
75 85
7/31/2013 218.65 219.95 170. 174. 8.62 115.3 122.8 110.2 121.7 7.6
7 5 5 5
6/28/2013 174.9 175.85 159. 166 8.67 122.1 126.8 101.8 110.1 11.52
7 5 5 5
5/31/2013 163.28 180.75 157. 173. 7.03 110.3 116.5 105.4 110.2 10.02
65 95 5 5
4/30/2013 173.95 211.07 163. 199. 16.7 110.2 129.6 104 129 8.69
78 73 1 5 5
3/29/2013 199.35 207.85 189. 189. 5.39 128.1 131.2 118.4 118.4 10.91
22 25 5 5
2/28/2013 189.93 194.19 175. 186. 3.49 118.5 121.4 110 119 8.51
66 97 5
1/31/2013 187.51 200.51 178. 181. 8.91 119.9 125 103.9 106.9 14.92
39 04 5
12/31/2012 179.83 182.34 167. 179. 4.93 106.9 107.9 94.65 102.8 16.67
36 67 5
11/30/2012 179.19 180.17 159. 160. 6.24 101.7 112.3 99.25 109 7.32
06 06 5
10/31/2012 159.97 176.48 152. 173. 5.07 109.0 116.4 103.1 110.7 14.6
81 29 5
9/28/2012 173.88 180.13 163. 167. 3.18 110.7 111.5 93.05 93.95 16.3
25 81 5
8/31/2012 167.63 170.09 153. 156. 3.33 93.5 101.8 82.35 82.35 37.08
04 6
7/31/2012 155 184.41 148. 183. 11.9 82 86.4 77.45 78.55 13.76
48 27 8
6/29/2012 182.09 189.06 176. 186. 3.84 78.45 79.35 72.25 74.9 8.62
 73 97
5/31/2012 186.76 191.66 172. 184. 3.39 75.25 78.9 66.25 77.2 12.84
6 73
4/30/2012 184.73 205.53 182. 200. 5.11 77.2 82.2 73.15 80.25 8.05
41 6
3/30/2012 200.19 204.27 189. 193. 3.16 80.2 82.55 65.05 69.2 50.11
88 81
2/29/2012 196.88 206.35 186. 188. 4 68.65 79.9 67.5 73.6 36.01
97 13
1/31/2012 188.45 193.76 174. 181. 5.11 73.45 77 63.6 65.25 24.11
77 95
12/30/2011 181.86 191.87 172. 174. 6.64 64.9 73.45 62.15 67.2 19.38
99 65
11/30/2011 172.44 177.39 164. 166. 9.76 65.75 78.5 64.1 70.2 19.88
21 9
10/31/2011 167.11 176.02 147. 154. 5.69 70.9 81 64 69.5 18.03
82 09
9/30/2011 155.36 164.05 142. 152. 7.3 70.2 79.3 64 66.85 40.23
57 79
8/31/2011 152.79 181.04 141. 178. 6.19 66.85 86.1 62.1 85 32.13
46 62
7/29/2011 177.82 198.28 177. 192. 4.58 84.05 94.2 83.3 84.25 40.64
18 46
6/30/2011 190.43 205.48 175. 203. 3.36 83.8 93.4 78 85.1 49.73
11 68
5/31/2011 203.68 206.8 195. 205. 2.93 84.75 85.7 68.75 75.4 46.79
17 34
4/29/2011 205.32 223.52 200. 217. 5.98 75.25 78.95 65.7 65.75 40.88
65 75
3/31/2011 218.11 219.89 196. 198. 5.31 65.75 69.85 61.6 62.1 37.8
54 46
2/28/2011 199.92 209.68 185. 199. 6.42 62.1 66.5 54.4 60.6 40.78
76 89
1/31/2011 199.94 225.7 193. 224. 8.27 60.15 73.9 60 67 52.89
81 36
12/31/2010 223.56 226.32 188. 191. 9.02 66.35 70.8 58.9 63.6 61.83
33 07
11/30/2010 191.62 201.1 181. 194. 5.31 62.25 90.65 59.75 79.7 67.48
49 26
10/29/2010 191.34 227.96 189. 206. 9.41 78.9 92.05 78.5 91 68.28
29 12
9/30/2010 204.45 206.12 181. 182. 7.55 90.1 113.8 79 80.1 227.65
79 86
8/31/2010 182.31 200.51 179. 188. 7.41 79.8 90.9 78.55 87 23.67
26 65
7/30/2010 187.58 197.45 149. 175. 9.13 86.4 93.65 86 90.8 40.01
 5 11
6/30/2010 175.45 191.3 171. 182. 7.48 40.01 94.8 82.75 86.75 61.73
01 77
5/31/2010 182.87 187.89 171. 183. 8.52 86.75 96.35 79.75 94.2 31.93
66 32
4/30/2010 184.28 200.28 183. 193. 11.2 94.5 98.2 89.6 93.45 40.52
87 8 3
3/31/2010 193.39 203.02 177. 185. 10.3 92.6 102.6 92.35 95.55 58.43
16 15 9
2/26/2010 185.15 202.47 146. 177. 6.94 95.55 104 93 99 60.33
38 13
1/29/2010 177.13 206.03 172. 185. 20.4 99.55 120.8 96.5 98 180.24
37 89 4 5
12/31/2009 185.89 191.25 172. 172. 13.7 98 112 90.25 91.25 123.24
62 92 8
11/30/2009 172.07 180.03 157. 166. 11.8 90.15 120.7 83.05 102.2 244.77
37 26 2 5
10/30/2009 166.26 175.11 150. 161. 16.6 102.2 119.9 100.0 119.0 71.15
07 76 3 5 5
9/30/2009 164.64 165.53 147. 151. 11.2 119.0 128.3 112.5 123.4 134.29
22 85 4 5 5 5
8/31/2009 150.69 157.02 130. 134. 15.5 121.6 123.8 96.7 105 298.29
25 42 2 5
7/31/2009 134.25 135.71 99.1 103. 21.7 104.5 109.5 66.75 74.4 432.66
3 7 3 5
6/30/2009 103.33 124.22 100. 105. 18.1 70.9 88.45 52.85 55 462.17
69 28 8
5/29/2009 104.4 122.58 85.0 90.4 23.7 53.4 58 43.2 46.6 199
9 3
4/30/2009 90.43 90.84 65.6 67.3 25.8 46.6 54.9 38 38.7 220.15
7 1 7
3/31/2009 67.14 71.52 53.3 54.7 13.8 38.35 53 34 42.95 252.68
5 9
2/27/2009 56.73 63.45 55.8 62.9 14.3 41.5 61 39.3 53.1 321.06
8 3 8
1/30/2009 63.23 69.77 54.7 64.5 40.7 54.05 188.7 11.5 175.2 1016.6
2 7 2 5 8
12/31/2008 63.9 72.3 58.6 66.8 20.9 170.1 251 114.6 246 205.17
1 7 5 5 5
11/28/2008 66.57 79.32 56.9 74.2 20.3 243 319 218.6 312 14.83
1 6 5
10/31/2008 74.46 96.23 49.7 93.8 25.8 304.8 325 220 306.9 21.02
1 5 5
9/30/2008 92.93 125.23 86.7 117. 15.6 296.6 438.5 270.1 416 17.68
3 1 5
8/29/2008 118.28 126.11 110. 112. 10.6 419.8 425.9 371 374 10.78
 84 18 5 5 5
7/31/2008 113.82 123.1 97.1 120. 23.3 380.3 493 363.1 438 25.8
7 66
6/30/2008 119.83 147.17 118. 136. 12.0 437.1 541.9 431.2 532 10.14
47 8 9 5 5
5/30/2008 138.99 141.96 129. 133. 22.2 523.7 544 464.9 482.2 19.91
02 69 7 5
4/30/2008 133.69 134.62 109. 116. 22.4 482.2 499.5 390.6 401 19.7
99 28 8 5
3/31/2008 116.37 125.86 94.7 115. 13.7 394.5 444.7 358 430 11.44
46 1 5
2/29/2008 118.92 129.66 108. 116. 11.2 434.1 480 389 397 11.95
9 26 4 5
1/31/2008 113.1 142 88.9 141. 11.9 389.2 449 305 443.6 9.97
2 07 6
12/31/2007 143.81 151.03 126. 126. 17.6 449.1 465 401 443 8.07
13 68 5 5
11/30/2007 125.94 140.61 117. 139. 11.0 439.9 485 406.2 480 8.8
1 54 3 5
10/31/2007 138.12 140.91 121. 127. 32.4 477.6 490 412 443 16.05
96 23 7 5
9/28/2007 125.82 133.25 116. 132. 39.9 443.5 457.8 401.5 451 11.31
28 7 4
8/31/2007 131.95 135.71 119. 135. 22.0 447.3 492.7 405 476 14.8
17 44 8 5
7/31/2007 135.61 145.15 132. 140. 22.1 483.2 522.3 458.0 470 14.08
97 64 2 5
6/29/2007 141.87 152.1 138. 149. 33.6 467.3 513.8 450.5 465 12.45
75 39 7
5/31/2007 148.99 158.83 143. 156. 16.8 469.6 485.6 441.1 473.1 12
64 3 1 5
4/30/2007 156.3 164.17 140. 153. 22.2 473.1 495.9 435 460 17.26
91 63 3
3/30/2007 152.77 169.31 145. 155. 16.8 470.1 474.8 409.3 415 13.34
29 96 1
2/28/2007 153.45 188.79 146. 168. 13.0 412.5 495.5 404 476.1 12.76
8 82 2
1/31/2007 167.7 180.58 154. 165. 13.4 472.3 524.9 454 483.9 21.7
89 41 7 5 5
12/29/2006 165.41 168 148. 164. 12.7 483.9 498.1 435.3 460 10.4
3 71 3 5
11/30/2006 163.88 165.26 143. 147. 16.5 459.2 484 412.0 441 11.77
12 75 8 5 5
10/31/2006 147.24 160.01 138. 143. 17.7 440.5 453 396 409.2 18.97
9 67 9 5 8
9/29/2006 143.67 145 133. 141. 13.7 409.2 432 384.5 405 39.63
 85 18 9 8
8/31/2006 141.7 146.08 132. 134. 19.9 404.1 413.2 366.8 376.5 23.18
44 07 7 8
7/31/2006 134.42 142.77 120. 140. 32.5 377.6 382.4 325.6 357.5 50.15
73 64 1 3 8
6/30/2006 140.57 140.91 104. 123. 25.2 355.7 358.4 280.2 350 44.98
79 89 7 8 8
5/31/2006 123.08 152.13 116. 147. 30.9 345.5 399.5 270.5 379.5 40.88
28 48 7 8 5
4/28/2006 147 163.86 135. 154. 21.2 374.6 445 356.3 427.5 60.71
44 04 8 8
3/31/2006 152.82 156.78 136. 142. 22.2 424.6 431 382.0 384.2 35.31
26 28 6 5 5
2/28/2006 142.35 149.03 133. 145. 29.1 384.7 395 359.8 374 26.43
52 01 7 3 8
1/31/2006 144.99 145.7 120. 126. 22.8 373.3 387.5 356.5 370.3 41.88
44 95 8 3 5
12/30/2005 126.8 128.6 114. 115. 26.4 368.9 370.5 324.5 326.2 47.96
92 46 3 8
11/30/2005 115.56 123.1 97.7 100. 21.9 326.6 339.5 302 305 39.69
6 14 2 8 3
10/31/2005 99.79 113.22 97.1 102. 25.8 303.0 308.1 271.5 281.0 81.83
3 33 8 8 8 3
9/30/2005 101.73 105.56 95.9 101. 18.5 280.0 283 257.6 266.8 47.5
1 24 9 3 3
8/31/2005 99.77 106.71 95.7 100. 16.1 265.0 275.4 243.5 260 44.04
6 55 7 3 5 5
7/29/2005 100.63 104.38 94.4 103. 22.0 260.8 270 237.2 254 40.59
97 9
6/30/2005 104.73 106.16 94.7 97.8 24.9 253.7 258.7 220.0 227.5 54.69
2 5 5 3 3
5/31/2005 97.94 100.31 80.7 87.1 18.5 226.7 236.4 197.6 201 59.61
5 4 2 5 5
4/29/2005 86.41 95.49 78.1 91.8 30.1 199.6 216 182.2 205.3 57.69
3 5 8 8
3/31/2005 91.81 100.48 85.5 95.7 20.9 204.2 211.1 192.8 205 66.8
6 6 5 5 3
2/28/2005 95.65 98.49 90.4 97.1 18.7 205.6 212.1 196.5 208 44.98
3 3 9 8 5 5
1/31/2005 96.39 104.66 85.5 103. 22.2 207.1 208.5 174.2 206 58.53
01 2 5 5
12/31/2004 102.33 106.3 98.9 104. 20.3 204.9 217.9 197.5 217.5 54.61
4 79 2 5
11/30/2004 104.81 105.61 88.7 89.7 26.0 216.6 221 184.8 188.5 55.78
2 4 5
10/29/2004 89.95 92.48 81.6 81.8 43.1 187.0 204.8 176.3 189.9 81.99
 7 8 3 8
9/30/2004 81.62 83.66 77.7 79.3 45.1 188.7 197 169 170.3 74.99
4 5 7 3
8/31/2004 79.14 79.89 72.1 75.2 72.4 169.7 175.6 164.5 170.4 67.81
4 3 8 8
7/30/2004 74.8 75.87 65.8 73.0 59.2 169.5 171.4 146.7 153 91.82
3 5 9 8 8
6/30/2004 72.79 77.16 65.2 70.0 67.1 152.7 162 141.5 159.2 146.96
1 9 5 3 5
5/31/2004 69.64 75.18 54.7 70.9 68.6 156.8 166.2 125 160 124.77
2 1 5
4/30/2004 70.43 76.34 60.1 62.0 64.3 160.4 169 147 148.7 139.82
9 9 6 3
3/31/2004 61.99 70.09 61.5 66.8 64.3 146.7 162.5 140.5 157.5 251.01
6 2 5 5
2/27/2004 66.46 76.66 63.6 71.0 77.9 154.8 173.4 143.5 159.0 240.9
2 3 5 5 5
1/30/2004 71.03 84.86 70.2 79.2 110. 159.0 195.5 153.5 183.6 251.27
3 4 61 5 8
12/31/2003 79.24 82.08 67.6 71.1 109 183.6 190.5 159.8 167.2 213.36
3 4 8 8
11/28/2003 70.18 70.55 60.9 61.5 103. 165.0 173.8 152.6 154.7 249.17
3 13 3 8 8
10/31/2003 61.26 66.21 53.5 56.7 132. 153.0 157.3 125.1 125.4 249.44
8 7 01 5 5
9/30/2003 57.16 61.79 48.6 50.1 145. 127 132.5 113.1 113.8 275.82
5 2 02 3 5
8/29/2003 48.59 51.67 41.0 43.4 82.6 113.3 119.7 92.63 102.9 176.03
4 6 4 3
7/31/2003 43 47.88 38.2 43.3 117. 102.1 106.7 80.5 96.53 207.15
1 7 04 5
6/30/2003 43.18 43.78 37.1 37.2 100. 96.18 98.23 83.55 83.55 130.69
7 6 52
5/30/2003 36.74 43.32 36.0 39.5 127. 83.65 89.7 75 76.2 186.08
8 4 6
4/30/2003 39.54 59.69 37.6 55.6 117. 76.2 97.73 63.65 87.5 335.84
2 8 47
3/31/2003 56.01 68.17 55.1 68.1 51.9 88.48 118.7 87.55 118.7 210.48
3 7 6 5 5
2/28/2003 66.95 67.76 59.5 64.3 53.8 112.7 116.8 105.0 112.6 174.29
1 4 7 5 8 5 8
1/31/2003 63.99 76.84 61.8 74.3 127. 112 141.7 107.5 138.9 248.4
5 6 56 5 5 5
12/31/2002 74.36 80.33 69.1 77.2 154. 138.9 145.9 132.3 138.2 255.95
3 4 92 5 3 8
11/29/2002 76.89 77.57 61.5 63.6 159. 137.6 140.3 115.0 117.5 309.49
 1 94 3 8 5 5
10/31/2002 62.51 68.13 58.6 60.2 165. 117.6 119 96.68 106.9 358.34
1 64 8
9/30/2002 60.36 69.31 54.1 58.3 146. 107.7 123.8 104.1 120.7 213.37
4 7 58 5 8 8 5
8/30/2002 57.9 58.37 48.4 52.1 87.5 120.2 120.8 94.88 102.4 271.76
7 7 6 5 5
7/31/2002 52.14 68.68 49.9 68.6 80.2 103.7 129.4 99.18 115.6 250.49
3 8 3 3 5
6/28/2002 67.6 73.05 66.2 69.5 45.5 115.1 125 106.1 125 186.38
2 4 3 3 3
5/31/2002 69.31 76.38 67.5 70.2 74.2 110.9 134.9 104.0 131.0 193.18
8 3 2 8 5 5 5
4/30/2002 70.23 85.5 68.6 78.3 129. 131.0 140.0 125.2 134.9 191.53
3 9 97 5 8 3 5
3/29/2002 77.6 86.18 70.6 71.1 103. 133.8 150.2 127.8 132.5 208.75
8 4 53 3 5 8
2/28/2002 72.15 80.53 71.3 75.9 123. 133.7 152 125.6 139 288.57
7 7 63 8 3
1/31/2002 75.09 85 66.5 72.5 274. 137.4 165.5 112.5 116.8 544.32
8 6 17 5 8
12/31/2001 73.08 89.61 64.9 66.5 344. 118.1 139 100.2 110 258.52
8 8 13 5
11/30/2001 66.02 71.28 46.0 49.7 314. 106.1 116.5 70.9 71.25 207.54
6 5 21
10/31/2001 48.98 54.67 38.3 48.0 453. 70.15 84.9 57.13 63.43 241.73
6 2 64
9/28/2001 48.11 69.36 37.1 67.6 451. 64.03 87.98 55.5 84.95 215.24
7 3 35
8/31/2001 67.73 71.41 62.1 67.7 151. 84.3 90.5 65.3 74.55 208.59
1 2 29
7/31/2001 65.89 67.49 52.9 63.8 222. 73.5 99.4 72.5 88.5 166.47
3 18
6/29/2001 63.83 80.83 55.7 77.0 279. 85.23 111.1 74.3 109.4 233.7
4 7 01 8 5
5/31/2001 76.56 85.18 54.7 65.5 264. 108.9 127.1 95.05 108.1 285.29
2 62 3 3
4/30/2001 65.5 72.22 34.8 58.3 204. 108.1 135.9 80 107.6 283.46
1 7 73 3 8
3/30/2001 60.84 120.25 59.0 116. 259. 116.9 176.5 89.5 175.4 385.88
5 52 29 5 5
2/28/2001 116.05 140.18 101. 127. 372. 173.5 212.2 147 207.1 518.11
69 05 08 5 3
1/31/2001 127.15 137.72 100. 109. 385. 207.8 214.8 153.5 161.6 706.75
28 74 6 8 5 8 3
12/29/2000 109.74 139.54 97.4 116. 357. 161.6 203.5 147.1 168.6 559.57
 5 79 32 3 5 8 3
11/30/2000 117.12 120.84 98.0 109. 300. 168.9 197.6 153.9 153.9 457.48
4 35 37 5 5 3 3
10/31/2000 108.61 125.27 84.4 121. 247. 153.6 255.5 145.7 243.6 452.09
5 15 32 3 5 3
9/29/2000 121.15 164.16 109. 139. 213. 243.6 322.5 219.7 285.9 430.74
95 77 39 3 5 5
8/31/2000 139.77 150.48 99.5 110. 0.03 285.9 297 210.0 240.6 423.31
5 72 5 8 9
7/31/2000 110.72 154.06 96.0 132. 0 245.9 340 219 333.2 358.31
4 7 9 5
6/30/2000 132.7 138.49 74.1 77.8 0.01 298.2 350 240.8 243.2 350.27
9 9 3 6 1
5/31/2000 93.48 151.88 87.3 151. 0 254.1 335 191.9 312 247.83
2 88 8 8
4/28/2000 151.88 317.93 151. 317. 0.35 312 450.9 280.5 450 158.39
88 93 9 9
3/31/2000 317.93 317.93 210. 238. 0 442.8 723 442.8 510 236.88
45 95 7 7
2/29/2000 238.95 238.95 195. 195. 0.05 505 552.5 265.5 266.6 290.82
76 76
1/31/2000 187.3 187.3 109. 123. 13.9 264.6 289.9 226.9 229.9 286.06
44 12 9 9 8
12/31/1999 118.6 119.7 57.1 58.3 47.8 219.9 229.9 180 190.8 463.75
2 7 3 5
11/30/1999 57.91 60.42 42.4 51.5 19.0 191.8 201.5 113.4 128.5 374.28
1 3 8 2
10/29/1999 49.47 70.41 48.5 62.4 15.5 127.2 172.5 110.5 112.4 445.04
7 3
9/30/1999 61.56 66.12 44.0 49.5 27.6 112.1 114.3 82.81 88.2 342.65
5 2 3
8/31/1999 49.71 50.85 43.0 47.4 11.8 87.77 100 82.8 84 462.38
9 3 1
7/30/1999 46.72 48.78 36.4 37.6 10.3 84 87.53 58.65 63.3 681.54
8 5 8
6/30/1999 37.55 40.35 35.7 37.5 12.4 63.4 71.5 56.25 71.25 523.25
1 8 4
5/31/1999 37.32 45.5 33.2 39.6 3.46 70.93 81.65 54.8 68.5 478.56
9 7
4/30/1999 30.83 36.94 28.1 @N 3.44 55 87.59 49.6 @NA 513.33
A
4.4 GRAPH

INTERPRETATION:

The Above Graph Represents 1999 Volume the here we describe highest price trading at
68154000 cr trading it’s near to 7cr Technical analysts analyze market it’s depend on demand
and supply. Here share values comes down 1908000 again fluctuate.
INTERPRETATION:-The Above Graph Represents stock price were closed 2588000 here
closing prices were 8183000 Wipro getting high prices investors buys Wipro shares high demand
buy shares market directionality and assess investor sentiment.
INTERPRETATION:- The above Graph Represents Wipro stock price were closed 1671000
here satyam closing prices were 760000 getting low prices investors Wipro shares high demand
buy shares market directionality and assess investor sentiment. The day’s high and low are also
common data points found within a stock quote. This data is generally used by traders as a
measure of volatility.
INTERPRETATION:-The above Graph Represents product 219.9 sat yam 1999 share of 219.9
here its Wipro 118.6 were declined due to the lack of investors to putting investments here.
INTERPRETATION:-

The above Graph Represents sum of sat yam price and Wipro prices 279.5 here we can find
115.3 it can be stock fluctuate about the market
4.5 Research Analysis

Stock exchange for Satyam Shares were very competitive in market before the financial
scandal in 2009. The immediate consequence of scandal was sudden fall in the share values
from to. Investors lost Rs. 14,000 crores as 94% of the cash represented in the market as Sat
yam’s hold was fictitious. Due to the poor performance exposing the gap between actual vs
fictitious value, the company lost his hold in market and it was taken over by another firm. All
Satyam did was trying to gain the trust of investors by showing fake assets, manipulating the
accounts, getting the shares and were paying back to the investors, it was like collecting from
one investor and paying back to other which continued for years after early millennium. The
organization did not plan on innovation and without any projects in hand the company finally
collapsed when they were unable to pay their investors back. All they could do was trying to
maintain the organization’s place in market and when they revealed the status of organization
due to financial audits; they ultimately collapsed in the market, this proves the fact that company
couldn’t perform even after involving in the financial manipulation.

Manipulation of accounts showed that Satyam had good share value in market compared to its
competitors like Wipro; which was honest in business. But when financial audits exposed the
bankruptcy the organization collapsed. This proves that honesty and integrity hold true values
and corporate manipulation of accounts derails the functionality of an individual or a firm.
 4.6 RECOMMENDATIONS

Investors should actively check the financial records of the company, should know the

innovative steps and strategy of the company for better performance. Should actively take part in

knowing the moves, merges, competitors, staff behavior. This kind of crime can only happen if

they don’t actively take part or cross verify about the challenges faced by company, everything

should be transparent and accessible to investors who can help the company to face the challenge

and to overcome the gap in financial statement with reality and help the company from stake to

profits
4.6 CONCLUSION

Organized crime is a category of transnational, national, or local groupings of highly

centralized enterprises run by criminals who intend to engage in illegal activity, most commonly
for money and profit. Some criminal organizations, such as terrorist groups, are politically
motivated. Sometimes criminal organizations force people to do business with them, such as
when a gang extorts money from shopkeepers for so-called "protection".Gangs may become
disciplined enough to be considered organized. A criminal organization or gang can also be
referred to as a mafia, mob, or crime syndicate; the network, subculture and community of
criminals may be referred to as the underworld. European sociologists (e.g. Diego Gambetta)
define the mafia as a type of organized crime group that specializes in the supply of extra-legal
protection and quasi law enforcement. Gambetta's classic work on the Sicilian Mafia generates
an economic study of the mafia, which exerts great influence on studies of the Russian Mafia, the
Chinese Mafia, Hong Kong Triads and the Japanese Yakuza.
5.0 LIMITATION OF THE STUDY

 Securities fraud, also known as stock fraud and investment fraud, is a deceptive
practice in the stock or commodities markets that induces investors to make purchase or
sale decisions on the basis of false information, frequently resulting in losses, in violation
of securities laws. Offers of risky investment opportunities to unsophisticated investors
who are unable to evaluate risk adequately and cannot afford loss of capital is a central
problem.

 Securities fraud can also include outright theft from investors (embezzlement by
stockbrokers), stock manipulation, misstatements on a public company's financial reports,
and lying to corporate auditors. The term encompasses a wide range of other actions,
including insider trading, front running and other illegal acts on the trading floor of a
stock or commodity exchange.

 The Securities and Exchange Commission, criminals engage in pump-and-dump

schemes, in which false and/or fraudulent information is disseminated in chat rooms,
forums, internet boards and via email (spamming), with the purpose of causing a
dramatic price increase in thinly traded stocks or stocks of shell companies (the "pump").
 Online investment newsletters that offer seemingly unbiased information free of charge
about featured companies or recommending "stock picks of the month." These newsletter
writers then sell shares, previously acquired at lower prices, when hype-generated buying
drives the stock price up. This practice is known as scalping. Conflict of interest
disclosures incorporated into a newsletter article may not be sufficient.
 The other type of insider trading is the purchase or sale of a security based on material
non-public information. This type of trading is illegal in most instances. In illegal insider
trading, an insider or a related party trades based on material non-public information
obtained during the performance of the insider's duties at the corporation, or otherwise
misappropriated.
 When the price reaches a certain level, criminals immediately sell off their holdings of
those stocks (the "dump").
KEY ISSUES WITH THE CORPORTAE CRIME

 Expensive & Lengthy Process

 Coherent
REFERENCES:

Countering Economic crises…by Alex Palmer

30 March 2011 : IWLA / ACJRD….by Shelley Horan

Corporate crime published on Jul 23, 2017….by Dr. Julian Hermida

Journal of Business Ethics : JBE Dordrecht (Jun 2017) 323-351

Marshall B Clinard Peter C Yeager Publications

Financial Shenanigans (2002) Book Published by Dr. Howard Schilit

Google Finance Documents series published annually

Economic Times-India times annual financial reports published every year

RSSoftware India / Share ratios/RSS

Corporate Crime – Marshell B Clinard

Corporate Crime – Richard D. Hastley

Rethinking C. C- James Gobert, Maurile Punch

Encyclopedia of white collar & Corporate Crime Volume 1 – Lawrence M. Salinger

International Handbook of White Collor & Corporate Crime – Henry N. Pontell, Gilbert L.

White Collar Crime, Detection, Prevention & Strategy in Business – Petter Gottschalle