Normal view MARC view ISBD view

The double life of Ramalinga Raju: the story of India's biggest corporate fraud

By: Nag, Kingshuk.
Publisher: New Delhi HarperCollins Publishers India 2009Description: xv, 182 p.ISBN: 9788172239084.Subject(s): Ramalinga Raju | B. -- (Byrraju) | -- 1954- | Satyam Computer Services Ltd. -- Biography | Industrialists -- India -- Biography | Accounting fraud -- IndiaDDC classification: 338.04092 Summary: The story of the rise and fall of Ramalinga Raju, promoter of the blue-chip software company Satyam, has no parallel in Indian corporate history. He created a 2 billion company in a short period of time, only to leave it penniless. At the heart of the scandal lay the IT baron's craving for land (his family's traditional business). To satisfy it, Raju pawned his shareholding in Satyam as well as in his real estate company, Maytas Infra, and allegedly siphoned off funds from both companies. In an elaborate cover up, Raju also fudged Satyam's books to inflate its revenues and profits, to increase the value of its shares. Raju was able to do this for eight years until the recession hit in 2008 and the bubble blew in his face. Having come into the It industry by accidenthe was not a technology professional himselfRaju became the toast of Hyderabad as he built a company spread across sixty-six countries in five continents. Close to the powerful and the rich, Raju also created a parallel real estate empire, going on to successfully bid for the Hyderabad metro rail project, the one act that brougght his house of cards crashing down. How did Raju amass his IT and real estate empires? How could he hoodwink the law, the shareholders and his employees for so long? This unputdownable fly-on-the-wall narrative, written with incisive depth by Kingshuk Nag, resident editor of the Hyderabad edition of The Times of India, capttures the dramatic story of Raju's life. (Source: www.infibeam.com)
List(s) this item appears in: Accounting fraud / Forensic accounting
Tags from this library: No tags from this library for this title. Log in to add tags.
    average rating: 3.0 (1 votes)
Item type Current location Item location Call number Status Date due Barcode
Books Vikram Sarabhai Library
Slot 835 (0 Floor, East Wing) 338.04092 N2D6 (Browse shelf) Available 169047

The story of the rise and fall of Ramalinga Raju, promoter of the blue-chip software company Satyam, has no parallel in Indian corporate history. He created a 2 billion company in a short period of time, only to leave it penniless. At the heart of the scandal lay the IT baron's craving for land (his family's traditional business). To satisfy it, Raju pawned his shareholding in Satyam as well as in his real estate company, Maytas Infra, and allegedly siphoned off funds from both companies. In an elaborate cover up, Raju also fudged Satyam's books to inflate its revenues and profits, to increase the value of its shares. Raju was able to do this for eight years until the recession hit in 2008 and the bubble blew in his face. Having come into the It industry by accidenthe was not a technology professional himselfRaju became the toast of Hyderabad as he built a company spread across sixty-six countries in five continents. Close to the powerful and the rich, Raju also created a parallel real estate empire, going on to successfully bid for the Hyderabad metro rail project, the one act that brougght his house of cards crashing down. How did Raju amass his IT and real estate empires? How could he hoodwink the law, the shareholders and his employees for so long? This unputdownable fly-on-the-wall narrative, written with incisive depth by Kingshuk Nag, resident editor of the Hyderabad edition of The Times of India, capttures the dramatic story of Raju's life. (Source: www.infibeam.com)

There are no comments for this item.

Log in to your account to post a comment.

Powered by Koha