Satyam scandal

The Satyam scandal was a major corporate fraud in India in 2009, where the chairman of Satyam Computer Services, Ramalinga Raju, manipulated the company's financial statements to falsely show higher profits and assets. He admitted to inflating earnings by over $1 billion through doctored books, misleading investors, employees, and regulators. The scandal revealed widespread corruption and fraudulent practices, shaking confidence in India's corporate governance and prompting reforms. It is considered one of India's largest corporate scams, highlighting the importance of transparency and oversight in business practices.