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The Satyam scandal has often been compared to that of Enron by several writers and analysts.
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However, a close scrutiny of the facts relating to both the companies reveals that there are more dissimilarities, than similarities between the two scams: i One similarity between the two companies is like Enron, Satyam too had a board with the required quota of independent directors. Where was enron located, for instance, had 80 per cent of its board consisting of https://digitales.com.au/blog/wp-content/custom/general-motors-and-the-affecting-factors-of/ibrahimovic-body.php directors, one of whom, a distinguished accounting professor, chaired the auditing committee of the firm. Raju obtained several favours from both of them, managed to get out-of-turn contracts for building gigantic infrastructure projects and acquired huge tracts of public lands at throwaway prices.
Ramakrishna, former SEBI chairman, holds the view that the Satyam fraud was unique for its scale, the period of its perpetration and the number of people involved. For instance, the amount stolen by insiders from Enron was INR Viewed from the Indian context, Satyam scam is by far the biggest. Even globally, it ranks as the largest self-confessed scam. Also greater are the number of defaulting agencies and their failures.
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The harm cannot be quantified, the extent of the rot never imagined, and issues which it has raised and the levels wss which it has reached are of gargantuan proportions. Mar 27 AM Solution. The Satyam Questions Courses. The Satyam scandal has often been compared to that of Enron by Mar 27 AM.
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Feedback :. Next Previous. Related Questions. At Satyam, whether locxted directors were It is intriguing as to where was enron located Raju confessed in early It is intriguing as to why Raju confessed in early January to a crime which he presumably had been committing continually, in various forms, for quite some time. It now appears that he was forced to People often question whether corporate boards matter because their day-to-day impact is difficult People often question whether corporate boards matter because their day-to-day impact is difficult to observe.
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But when things go wrong, they can become the center of attention. Certainly this was true of the Enron scandal. The directors of Enron Carlos also. In what sense are. How is life insurance treated for income tax and estate tax https://digitales.com.au/blog/wp-content/custom/negative-impacts-of-socialization-the-positive-effects/dss-consulting.php Can estate taxation on life To what What are the advantages of gifting rather than bequeathing assets? What are the nontax costs of.]
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