Satyam Computers was founded in June 1977 as a private limited

company by Ramalinga Raju along with one of his brothers-inlaw, DVS Raju. In June 1991, Satyam Computers got its first Fortune 500 Client. In the same year in August, Satyam Computers was recognized as a Public Limited Company. Satyam went public in May 1992 and its issue was oversubscribed 17 times. In July 1993, Satyam entered into a joint venture with Dun & Bradstreet. Satyam was awarded ISO 9001 Certification in March 1995. In December 1995, Satyam Infoway was incorporated. In May 1997, Satyam became the first Indian IT Company to get ITAA Certification for Y2K Solutions. In November 1998, Satyam became one of the first companies to enter Indian Internet service market with the launch of Satyam Infoway's ISP Service.

 organization in the world to launch Customer-

Oriented Global Organization training.

First ISO 9001:2000 Company in the world as certified

by BVQI.
Ranked by the Brown-Wilson Group as the number

two outsourcing vendor globally in the year 2006.

 First Indian IT Company to get ITAA Certification for

Y2K Solutions.
Satyam Infoway is the first Indian Internet company to

be listed on NASDAQ.
Declared one of '100 Most Pioneering Technology

Companies' by World Economic Forum, Davos in the year

 On 7 January 2009, company Chairman Ramalinga Raju resigned after

notifying board members and the (SEBI) that Satyam's accounts had been falsified Raju confessed that Satyam's balance sheet of 30 September 2008 contained: inflated figures for cash an an overstated debtors' position of Rs 490 crore ($ 106.33 million) (as against Rs. 2,651 crore ($ 575.27 million) in the books). Raju claimed in the same letter that neither he nor the managing director had benefited financially from the inflated revenues. He claimed that none of the board members had any knowledge of the situation in which the company was placed.[4][5] He stated that "What started as a marginal d bank balances of Rs 5,040 crore ($ 1.09 billion) as against RS 5,361 crore ($ 1.16 billion) crore reflected in the books.

 an accrued interest of Rs 376 crore ($ 81.59 million) which was

non-existent. an understated liability of .rs 1,230 crore ($ 266.91 million) on account of funds was arranged by himself. gap between actual operating profit and the one reflected in the books of accounts continued to grow over the years. It has attained unmanageable proportions as the size of company operations grew significantly (annualised revenue run rate of Rs 11,276 crore (US$2.45 billion) in the September quarter of 2008 and official reserves of Rs 8,392 crore (US$$1.82 billion)). As the promoters held a small percentage of equity, the concern was that poor performance would result in a takeover, thereby exposing the gap. The aborted Maytas acquisition deal was the last attempt to fill the fictitious assets with real ones. It was like riding a tiger, not knowing how to get off without being eaten

 Two months after taking over scam-tainted Satyam Computer

Services, Tech Mahindra on Sunday renamed the IT major as Mahindra Satyam. The logo will be adopted from the Mahindra Group. "This strategic move paves the way for the emergence of a robust brand, which draws from the core values of the Mahindra group and the inherent strength of the Satyam brand," said a company statement on Sunday evening. "Customer centricity, high standards of corporate governance, unimpeachable ethics form the cornerstones of the Mahindra Group," said Mahindra Group Vice-Chairman and Managing Director Anand mahindra "This re-branding exercise symbolises an amalgamation of the Mahindra Group's values with Satyam's fabled expertise, even as it retains that part of Satyam's identity which signifies commitment, purpose and proficiency of the organisation and its people," the statement said.

 Satyam's Executive Vice-Chairman Vineet Nayyar

described the move as "a significant milestone towards the recovery of the company". Tech Mahindra, owned by the .3 billion Mahindra Group, bought the scam-hit IT company in an open auction in April. The re-branding comes six months after Satyam's founder and then chairman Ramalinga Raju confessed to a Rs 78billion accounting fraud. The Government launched a probe, superseded the board, and put the company up for sale in open auction.

 Kartika yadav

Roll no. 57
sybms