Vineet Nayyar, as executive vice-chairman of Mahindra Satyam, oversaw the company s overhaul after founder B. Ramalinga Raju confessed to what still is among India s most-alarming financial frauds.Mint is republishing this article from 2009 after Vineet Nayyar passed away on 16 May at the age of 85
Maintaining financial transparency in business accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
Tech & its mad men financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
A businessman’s personal assets might be protected if s/he takes a business loan, but if there is evidence of cheating or if the amount is disputed or contested in court, the personal assets can be liquidated to pay off the debt. This takes precedence before legal heirs can claim their rightful share.
Market regulator Securities and Exchange Board of India (SEBI) has asked six entities, including former promoters of Satyam Computer Services Ltd (Satyam), to disgorge unlawful gains of Rs624 crore with an interest of 12%pa (per annum) for about 15 years, taking the total amount to over Rs1,747 crore.