TruemorsBANGALORE -- Satyam Computer Services Ltd. Chairman B. Ramalinga Raju Wednesday resigned admitting to falsifying company accounts and inflating revenue and profit figures over several years, sending the company's shares plunging 78%.
In a letter to the company's board, which was released to the Bombay Stock Exchange, Raju said that Satyam had inflated its operating profit for the three months ended Sept. 30 to 6.49 billion rupees ($136 million) from 610 million rupees reported previously, while ... Read more...
Satyam's Chairman Resigns
uploaded by mashget January 8, 2009 at 08:58 pm
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Title: Satyam's Chairman Resigns
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Created: Thu, 01/08/2009 - 8:58pm
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