Understanding IPOs and IPO Scams You don’t have to spend too much time around the stock market to discover that there’s something fishy about many stocks’ initial public offerings‚ (IPOs). The standing joke is that IPO really stands for “It’s Probably Overpriced”. While that may or may not be true in any given case‚ there are a large number of pitfalls awaiting the would-be IPO trader or investor. It’s a case of caveat emptor‚ and in order to be suitably wary you need to understand how an IPO
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Marketing of Services Services: A service is any act or performance‚ one party can offer to another‚ that is essentially intangible and does not result in the ownership of anything. Its production may or may not be tied to a physical product. Customer Service: It is the service provided in support of a company’s core products. It includes‚ answering questions‚ taking orders‚ handling complaints‚ repairs etc. These are for building customer relationships and not the ones provided for sale by
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EOW takes Aim at one more car rental company Aim Limouzines - like City Limouzine - had started a car-rental investment scheme‚ but allegedly defaulted on payments to investors. EOW suspects fraud to the tune of Rs 20-crore | | |
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On January 7‚ 2009‚ Mr. Raju confessed in a letter to the Satyam Computers Limited Board of Directors “he had been manipulating the company’s accounting numbers for years”. Mr. Raju claimed that he overstated assets on Satyam’s balance sheet by $1.47 billion. Nearly $1.04 billion in bank loans and cash that the company claimed to own was non-existent. Satyam also underreported liabilities on its balance sheet. Satyam overstated income nearly every quarter over the course of several years in order
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The Scam in Mercy Killing Imagine one of your family members is terminally ill and presumed she will die very shortly. This is a controversial topic where some people want to die with dignity. So many people can choose Euthanasia to assist them in dying peacefully. So many of these people approximately 3‚147 cases are put under this pressure to end their lives and say god-bye. Euthanasia is the putting to death by painless means or in Greek language it means a good death. Either you can do this
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AFM 351: Audit Strategies Satyam Fraud: A case of India’s Enron 1. Describe the governance structure at Satyam. What was the “tone-at-the-top” at Satyam during the fraud period? • • • • • • • 2. In terms of the confirmation of cash balances‚ what deficiencies can you identify in terms of the procedures followed in the Satyam engagement? • • • • 3. Ramalinga Raju was the Chairman of the Board His brother‚ Rama Raju‚ was the Managing Director and CEO They both had direct operational
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Research School of Management The Australian National University ACT 0200 Tel: 02 6125 9839‚ 02 6125 6737 Fax: 02 6125 8796 enquiries.rsm@anu.edu.au Email: Student Office: Room 1088‚ Level 1 LF Crisp Building ANU Campus Map (map GH32) http://tinyurl.com/9n8xgd8 College of Business and Economics The Australian National University ACT 0200 Tel: International +61 2 6125 3807 Within Australia: 1300 732 120 (local call cost only) Fax: International: +61 2 6125 0744 Within Australia: 02 6125 0744 Student
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Fight on Phiten bracelets and necklaces have become very popular in the world of sports. The main sports they are used in is baseball and golf. At Phiten‚ they claim that their necklaces will “add energy” and “help people enhance their quality of life” (Hirata). The makers of Phiten say claim to use a special way of breaking down titanium into water‚ creating something they call aqua titanium. This aqua titanium gets infused into their products‚ which they say will help a person’s overall lifestyle
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Synopsis This case illustrates the downfall of Satyam‚ one of the biggest IT giants in India‚ because of the fraudulent activities carried out by its founder Mr. Ramalinga Raju and his associates. Business world at that point had garnered immense respect for Satyam in terms of risk management and corporate governance practices and Satyam was ranked as the fourth largest IT Company in India. This was the case before December 16‚ 2008‚ when Satyam promoter Mr. Ramalinga Raju proposed his intent to
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TOP 10 Biggest Indian Scams Of All Times 1. Ramalinga Raju The biggest corporate scam in Indias come from one of the most respected businessmen. Satyam founder Byrraju Ramalinga Raju resigned as its chairman after admitting to cooking up the account books. His efforts to fill the "fictitious assets with real ones" through Maytas acquisition failed‚ after which he decided to confess the crime. With a fraud involving about Rs 8‚000 crore (Rs 80 billion)‚ Satyam is heading for more trouble in
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