satyam

In his confession, Mr Raju said he had personally raised 12. 3 billion rupees ($250m) in loans to help keep Satyam afloat.

The company's automotive practice employs 7, 000 people and claims to work for most of the top automotive producers and their suppliers.

But right now all that its Indian competitors want from Satyam is distance.

If they do not act swiftly, Satyam's rivals may pick up its most lucrative customers and its best employees.

In fact, it turns out, it was Mr Raju's last desperate attempt to plug the hole in Satyam's balance sheet with Maytas's assets.

Rather than using physical mouldings to design a car, as remains a common practice today, for instance, this is all done online at AACE.

In addition, the centre would help Satyam service its Japanese clients better, one of the main objectives behind Satyam China operations.

LIKE a blot on corporate India's copybook, the Satyam scandal is still spreading.

One of the leading IT outsourcing companies, Satyam, revealed a massive fraud earlier this year.

Satyam (which means "truth" in Sanskrit) is one of India's biggest technology companies.

According to the Indian Express, a newspaper, he is now asking Satyam for the money back.

However, he said that events such as those of the Satyam case were so rare that he could not remember a similar incident.

Satyam may not have been part of a pyramid, but it is a good example of control exceeding ownership.

Indeed, in the wake of the Satyam scandal, investors have been swift to punish even small infractions.

Satyam said: "We do not comment on individual clients. "

Meanwhile Mr Raju, his brother, and Satyam's chief financial officer are in custody, charged with criminal conspiracy, cheating and forgery.

The New York Stock Exchange halted trading in Satyam's shares indefinitely, saying it wanted to review the news.

These concerns have helped knock 15 per cent off India's market since the Satyam scandal broke just over two weeks ago.

The chief minister of Satyam's home state is trading furious accusations of negligence and worse with his predecessor.

Last week, Hyderabad-based Satyam Computer Services Ltd. said it has cut its recruiting target by a third to 10, 000 new hires this year.

Since revenues from the new companies were far away, Raju dipped into Satyam to pay the politicians.

Furthermore Satyam China has set up close alliance relationship with the global top technology vendors.

Quarter after quarter, he inflated Satyam's profits, even as operations expanded and costs grew.

Is selling Satyam Computer Services through competitive bidding process the best way to induct a new management?

Satyam's books were audited by PricewaterhouseCoopers.

SATYAM means "truth" in Sanskrit, an ancient Indian language.

It is not known exactly what issues the inspectors raised in the Satyam file.

They dumped most of the Satyam shares he had pledged as collateral for the 12. 3 billion rupees in loans.

Satyam China is one of the first IT Companies in China to achieve the latest IT Information Security Standard ISO 27001 in 2006.

Satyam's presence spans 57 countries, across six continents.

Satyam's presence spans 55 countries, across six continents.

The Mumbai exchange's benchmark Sensex index fell 7 per cent as shares in Satyam plummeted nearly 80 per cent.

With 2, 500 seats, the Nanjing GDC will be the Satyam's largest development facility outside of India.

Satyam's shares fell nearly 80 percent in India and dragged down Bombay's main benchmark index . BSESN 7. 3 percent.

A profit-inflating scandal last year at Satyam, India's fourth-largest IT outsourcing company, reawakened old worries.

Only last year, India was stunned by a high profile fraud at Satyam, a leading IT outsourcing company.

Lessons from Satyam | Pharaoh capitalism | The Economist The costs and benefits of "pyramid" business groups