36490436 Presentatio Satyam Case
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Transcript of 36490436 Presentatio Satyam Case
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MANAGEMENT
FOUNDER : Mr. Raju Ramalinga
CEO : Mr. A. S. Murthy
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Satyam was established in 1987.
4th fastest growing IT company in India.
9 % market share
40,000 employees
Revenue $2.1 billion It is the first company of India listed in three International Exchanges i.e. NYSE,
DOW and EURONEXT
INTRODUCTION
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HOW IT·S HAPPENED
Maytas Acquisition.
Investors Aborted.
Board MembersResigned.
On 7th Jan., 09,
Chairman resignedafter announced
involvement in fraud.
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INDIA·S STEP TO
SAVE SATYAM
The Indian Government has stated that it may provide temporary direct or indirectliquidity support to the company
Govt. has appointed new board of members for Satyam consisting of heavy
weights from India's corporate sector. Satyam is seeking bank loans to help cover salaries and other operating expenses
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WHO WILL
ACQUIRE?
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11/6/2010
7asdf
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11/6/2010
8asdf
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MANAGING DIRECTOR
EX MANAGING DIRECTOR
RAMALINGA RAJU
NEW VICE CHAIRMEN & MANAGING DIRECTOR
ANAND MAHINDRA
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S
A
T
Y
A
M
CURRRENT ASSETS
LIABILITIES
ACTUAL DEBTWAS 2161
OVERSTATED490 CR.
ACTUAL CASHIN BANK WAS321 INFLATED
5040 CR.
NO ACCRUEDINTEREST376.34 CR.
UNDERSTATED
LIABILITY 1230 Cr. Which was ARRANGED BY
MR.RAJU
ARTIFICIALLY ADDED 588 OPERATINGPROFIT ADDED 588INCREASING THE CASH RESERVEONLY FOR Q2 ALONE TO 588
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CHANGE THE NAME OF THE COMPANY.
RECONSTITUTION OF THE BOARD :-
RESTORE THE MANAGEMENT OF THE
COMPANY AND APPOINT SOME REPUTEDPEOPLE AS THE BOARD OF DIRECTORS.
TRY BUILDING CONFIDENCE IN THE
CLIENTS TO GET BACK THE LOST
PROJECTS.
THE IMAGE OF THE COMPANY COULD BE
REVIVED BY A SERIES OF PRESS
CONFERENCES HIGHLIGHTING THE
ON GOING CONTRACTS WITH THE CLIENTS.
IT COULD ALSO BE MERGED WITH ANYOTHER SOFTWARE COMPANY.
WHAT MANAGEMENT
COULE DO?
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Ø TECH MAHINDRA IS PAYING RS1757
CRORE
FOR A 31% STAKE IN THE COMPANY, OR RS
58
PER SHARE.
Ø SATYAM COMPUTER SERVICES HAS NOW
ZOOMED 15% TO RS 54.20 AHEAD OF THE
ANNOUNCEMENT OF THE HIGHEST BIDDER
FORTHE COMPANY ON APRIL 13, 2009.
Ø IN INDIA THIS MOMENT WAS FULL OF
PRAISE
FOR THE MANNER AND SPEED WITH WHICH
THERECONSTITUTED BOARD OF SATYAM
S
A
T
Y
A
M
Tech Mahindra wins bid for Satyam
Scam
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company Chairman Ramalinga Raju resigned after notifying
board members and the Securities and Exchange Board of
India (SEBI) that Satyam's accounts had been falsified
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SATYAMTHE HIDDEN TRUTH
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V.CHANDRASEKARAN
(Pentamedia Group)
DINESH DALMIA
(DSQ Softwar es)
RAMALINGARAJU
(Satyam Computer s)
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Byrr aju Ramalinga Raju is the biggest
fr audster. In the Indian softwar e Industr y.But he is not the fir st.
Dinesh Dalmia, Vice-Chair man, DSQ softwar e,
has been in jail for Two year s.
Pentamedia company promoter
V.Chandr asekar an was found to be incahoots with tainted broker KETAN PAREKHin rigging up shar e prices.
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THE TRUTH SERUM TRAILS
Satyams Rs 7,000-cror e duplicity.
Scale of monies and skulldugger y involved and the worr yingimplication for Indias IT sector.
The Satyam saga puts the entir e corpor ate food chain intoquestion from dir ector s and auditor s to analysts and
the media.
Is The Satyam scandal just about a promoter manipulating the financial statements of his company to show asuperior per for mance?
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11/6/2010
18asdf
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Balance sheet of Satyam computer ltd.
SOURCES OFSOURCES OF FUNDSFUNDS AS ON 30.09.08AS ON 30.09.08 ADJUSTEDADJUSTED BALANCEBALANCESHEETSHEET
ADJUSTMENTSADJUSTMENTS
1.1. Shareholders fundsShareholders fundsa. Share capitala. Share capital(share application money ,(share application money ,pending)pending)
b. Allotmentb. Allotment
c. Reserves and surplusc. Reserves and surplus
134.70134.70
2.762.76
8392.238392.23
134.70134.70
2.762.76
((--)415.47)415.47
2. Loan Funds
a. secured loans
b. unsecured loans
____________________
30.49
234.80
______
8794.98
_______
30.49
1464.80
_______
1217.28
_______
1230.00
_______
1230.00
________
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APPLICATION OF FUNDS AS ON
30.09.08
ADJUSTED BALANCE
SHEET
ADJUSTMENT
S
1. Fixed assests
2. Investments
3. Tax
4. Curr ent assests
a. sundry debtorsb. cash
c. accrued inter est
d. Loans
LIABITIES
Net curr ent assests
TOTAL APPLICATION OF FUNDS
1381.10
618.64
118.75
2651.365312.62
376.34
502.22
2166.05
6676.49
_______
8794.98
1381.10
618.64
118.75
490.00272.62
-
502.22
2166.05
901.21
_________
1217.28
1381.10
618.64
118.75
2161.365040
376.34
-
-
5775.21
(differenc
e)
________
7577.7
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W here is the money???
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Spice grou p
Tech Ma hind ra
H ind uja grou p
L&T
GE
BID
DER S
FOR
ACQ UISI
TION
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FINALLY
SATYAM
ACQUIR
ED BYTECH
MAHIND
RA«.
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