How Scam Was

Exposed
The Fall of the Market in the Recession of 2008
By September 2008, after nearly 18 months of the sub-prime crisis un raveling,
Lehman's stocks had already taken a beating and its debt had piled up, filling for bankruptcy on
September15, 2008.

 This cause depression in real estate share prices which spread globally. Now the
property(real estate) which Mr. B. Ramalinga Raju bought in high prices their prices fall
by half causing tremendous loss for Maytas Infra and Maytas
properties.

 The Gap between real figures and inflated figure began to rise and started getting out
of control.

1
 Failed Comeback

 On December 16, 2008, Satyam Computer Services - announced the acquisition of Maytas Infra
and Maytas Properties, companies related to Mr Raju's family and controlled by same set of
promoters, for around ₹ 7,700 crore.
 But the plan backfired and no shareholder approval was sought for the acquisition, which would
have utilized nearly all of Satyam's ₹ 5,500 crore cash.
 A lot of chaos was created in the market and it hit Satyam Computer Services share prices. Shares
of the company fell over 30 per cent
 investing DSP Merrill Lynch met market regulator Sebi and said it has found serious flaws while
carrying out a due diligence exercise in Satyam
 Mr Raju admitted to over ₹ 7,000 crore accounting fraud, saying Satyam had overstated profits
and falsified assets for years, Confessed by writing letter