Mr. Raju, Chairman of Satyam Computers Cheated the people and makes a huge money through false means, satyam was taken over by Mahindra and now is doing well after a downfall. Raju diverted Satyam funds to the companies headed by his sons, B. Teja Raju (Maytas Infra) and B. Rama Raju Jr Properties, to buy large tracts of land and win projects. He had chalked out a game plan to acquire the companies and in the process also reduce the alarming gap in Satyam’s accounts, between actual profit and the figure stated in the books, and keep the wealth within the family. Last December, Raju had proposed acquiring Maytas Infra and Maytas Properties, both run by his son, but gave up the idea after investors, the country’s largest information technology (IT) services companies admitted to years of falsified profits and an audacious financial fraud worth 1.5 billion dollars. Satyam lost over 125 clients, including big company like coke and caterpillar pulled out ,and its market cap sank by Rs.10,000 crore in one day alone.
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