Satyam, a large computer firm with businesses in many countries, has been a shining star of Indian technology companies and has become valued at several billions of dollars. With the
financial down-turn, founders had pledged all their assets and in the process, have exaggerated (possibly even falsified ) their financial position. Until these charades could not carry on- they came clean and resigned from the board. It was a set-back of catastrophic proportion for India's Information technology field. All the markets were shaken. Many well wishers of India thought that this situation could hurt the image of India as the leader in technology field.
Financial and criminal investigatory departments of the Government jumped in and appointed new board. They looked for a means to stabilize the company- to be sell to a new owner, to bring stability to Satyam and its businesses worldwide.
Mahendra is old Jeep manufacturer and has had a long history in Indian business. Their bid for Satyam puts the company value at 1.2 billion dollars. For this historically difficult financial moment, it seems that the ACTIONS OF INDIA'S financial leadership and general political environment has saved India from major disaster.
THE RISE, FALL AND REBIRTH OF SATYAM WILL BE STUDIED IN BUSINESS SCHOOLS FOR GENERATIONS TO COME.