Satyam Scam – Complete Story in Hindi
1987 me B Ramalinga Raju ne apne bhai ke saath mil kar Hyderabad me Satyam Computer Services Limited naam ki company start ki thi Kareeb 20 employees ke saath. Isse pehle Ramalinga Raju ek cotton mill ka malik tha. Ye Ramalinga Raju ki rang se raja banne ki kahani hai jisme Satyam computers dekhte hi dekhte India ka 4th largest IT company ban gaya tha.
Satyam Computers globally bhi bahut tezi se grow kar raha tha. 1991-1992 me company na sirf Bombay Stock Exchange par list ho gayi balki 2001 me New York Stock Exchange par bhi list thi. Satyam “rising star” ban chuka tha indian outsourced IT industry ka. Innovation, governance aur corporate accounting ke liye Usko kayee awards mile. Yahaan tak ki Golden Peacock award bhi diya gaya. Unfortunately, ye award Milne ke 5 mahine baad hi company massive accounting fraud ka center peice ban gayi.
Real estate market me boom aane ke kaaran Ramalinga Raju ka dhyan real estate me shift ho gaya tha. Usne lagatar properties khareedna shuru kar diya tha. 1988 me Ramalinga Raju ne do companies establish ki MAYTAS Infrastructure aur MAYTAS Properties. Wo in companies aur apne family members ke Naam par properties khareedta tha.
Properties ko khareedne ke liye usne 365 investment companies kholi thi. In companies aur satyam ke beech inter-corporate investments, advances aur loans ke form me kayee transactions hote the. In companies ka director usne apne friends aur family members ko bana rakha tha.
Jab properties khareedne ke liye paise kam pade to usne Satyam ke accounts ko manipulate karna shuru kar diya. Wo Satyam ke profits aur revenues ko badha chadha ke dikhane laga. Isse satyam ke share prices me increase aaya aur fir wo un prices pe shares ko bechta tha. Yahaan tak ki actual me total 43000 employees kaam karte the lekin payroll me 53000 employees show kiye gaye. Fake salary accounts me har mahine Kareeb $4 million daale jaate the. Ye saara paise wo apne family aur relatives ke Naam pe li hui companies me transfer kar deta tha jisse properties khareedi jaati thi.
Satyam me huge sales dikhane ke liye fake customer identities banayi jaati thi aur un customers ke Naam par fake invoices generate kiye jaate the. Raju ne kareeb 7500 fake sales invoices print kiye. Ye invoices “Ontime” naam ke software application se create kiye jaate the. Jo ki employees ne kitni der tak kaam kiya hai ye calculate karne ke liye use hota tha. Yahaan tak ki usne kayee fake bank statements bhi banaye ye show karne ke liye ki sales se aaya sara profit bank me deposit kar rakha hai. Fake profit aur growth dikha kar saare investors ko satyam ki taraf attract kiya. Aisa kayee saalo tak chala. 1999 me Satyam me promoters ki shareholding 24% thi jo ki 2008 me 2% par aa gayi.
Uske paas Hyderabad ka metro plan tha jisse ki wo metro line ke aas paas wali saari properties ko khareed raha tha. Usne socha tha ki metro banne ke baad un properties ki rates badh jaayengi, tab unhen bech kar jo paise aayenge, use wo Satyam me laga dega toh books of accounts ke fake figures aur actual figures ka gap khatam ho jaayega. Lekin 2008 me recession ki wajah se real estate market me slow down aa gaya aur Ramalinga Raju ka sara plan flop ho gaya.
Ramalinga Raju ne Kareeb 8 saal tak satyam ke profits inflate karke dikhaye the. Aisa karne ki wajah se actual profit aur books me show kiye gaye profits ka gap itna badh chuka tha ki usko cover karna ab mushkil tha. Gap ko khatam karne ke liye Raju ka har attempt fail ho raha tha. Ramalinga Raju ne apne confession letter me khud ye baat kahi thi ki wo tiger ki sawaari kar raha tha aur use nahi pata tha bina tiger ka shikar bane utarna kaise hai.
Kyunki promoters ke paas bahut hi small share tha company me ,Raju ko dar tha ki agar satyam ki poor performance show hui market me to usko take over kar liya jaayega aur isse ye gap expose ho jayega. Is gap ko fill karne ka aur satyam ko bachane ka Ramalinga Raju ne ek aakhiri plan banaya. Usne socha agar satyam MAYTAS Infrastructure and properties ko acquire kar le ₹7800 crore me to ye gap cover ho jaayega kyunki aisa karke wo ye show kar sakta hai ki usne MAYTAS ko khareedne me paise lagaye jabaki actually me to koi transaction hogi hi nahi kyunki dono usi ki company hai. SATYAM ko agar ulta kar diya jaaye to MAYTAS hota hai.
16th Dec 2008 ko Satyam ke shareholders ne is acquisition ke liye apni approval de di. Lekin investors is decision se khush nahi the, yahaan tak ke US ke ek investor ne Satyam ke uper ek lawsuit bhi file kar di thi. Is decision ki wajah se Satyam company ke share prices bhi decline ho gaye. NYSE me Satyam ke share prices 55% se decline ho gaye. Ye dekh kar Ramalinga Raju ko is plan ko cancel karna pada.
Is incident ke baad Satyam ke 4 independent directors ne resign kar diya. World bank ne 4 saal ke liye satyam ko ban kar diya. Kuch hi dino me Satyam ke share prices ₹170 se sidha ₹6.50 tak gir gaye.
Teen hafte baad 7th Jan 2009 ko Ramalinga Raju ne SEBI ko ek letter likha jisme usne confess kiya ki usne books of accounts ko manipulate kiya tha. Satyam ke actual accounts aur inflated accounts ka difference ₹7000 crore tak ka tha. Is scam ke pata chalte hi investors ko ₹14162 crore ka loss hua.
Ramalinga Raju ne cash aur bank balance ₹5361 crore dikhaye jab ki actual balance ₹321 crore tha. Bank deposits pe ₹376 crore ka interest show kiya jab ki actual me na to koi bank deposit tha na hi koi accrued interest. Yahaan tak ki liabilities ko zero show kiya jo ki actual me ₹1230 crore thi. Satyam ke actual debtors ₹490 crore ke the lekin usne books me ₹2651 crore show kiye. Matlab ki jo paisa milne wala tha use badha ke dikhaya aur jo paisa dena tha use ghata ke dikhaya. September quarter ka revenue 27000 crore dikhaya gaya jab ki actual revenue sirf 2112 crore tha.
9th Jan 2009 ko Satyam ko NIFTY aur SENSEX se remove kar diya gaya. 9 Jan 2009 ko Ramalinga Raju aur uske bhai ke saath 9 aur logo ko arrest kiya gaya. In 9 logo me Satyam ke CFOs aur auditors bhi the. Dono bhaiyon ko 7 saal ki jail hui aur dono par ₹5.5 crore ka fine lagaya gaya.
April 2009 me government ne apne board of directors appoint kiye satyam me. Tech Mahindra ne Satyam ko auction me 51% stake ke saath khareeda aur use ek nayi identity di Mahindra Satyam. 2013 me is company ke operations band kar diye gaye jab ye apne parent company Tech Mahindra ke saath merge hui.
Ye pura accounting fraud ho raha tha aur company ke auditors ko iski bhanak bhi na lagi ho ye maanna thoda mushkil hai. Statutory auditors jin par General public ne bharosa kiya tha ki wo accurate information denge, wo na sirf apna kaam sahi se karne me fail hue balki khud is fraud ka hissa bane manipulated accounts ka clean audit report dekar. Satyam ke auditors the Price Waterhouse and Coopers (PwC), jinhone ek baar bhi bank me jaakar balances ko reconcile nahi kiya. cash ko audit karna ek basic procedure hai jisse karne se pehle koi bhi auditor ek baar nahi sochega. Agar aisa kiya hota to unhen pata chalta ki actual me koi bank deposits hai hi nahi.
Allegations ye bhi hai ki Ramalinga Raju aur uska bhai PwC ko baaki companies ke comparison me kuch zada hi paise dete the unke accounting frauds ko chhupane ke liye. 2018 me PwC ko SEBI ne 2 saal ke liye listed Indian companies ko audit karne se ban kar diya. Aur US securities and Exchange Commission (SEC) ne PwC par $6 million ka fine lagaya.
Investors , employees aur analysts ko Satyam ki ek rosy picture dikhane ke liye Ramalinga Raju ne account books ko manipulate kiya taaki company apne actual size se aur bhi badi lage. Satyam fraud ki wajah se investors ke kayee dreams chaknachur ho gaye, government ko jhatka laga aur India me statutory auditors ki accounting practices aur CG norms par kayee sawal khade hue.
Satyam scam ko “India’s Enron” kaha jata hai kyunki Enron ki Tarah isme bhi accounting fraud, insider trading aur money laundering jaisi cheeze dekhi gayi. Satyam case ko Indian financial system ka failure maana jata hai. Is fraud se pata chalta hai ki balance sheet me sirf numbers ko manipulate karne ki wajah se investors ko kitna bada nuksan ho sakta hai. Irony ye hai ki Satyam ka sanskrit me mtlb hota hai “truth”, lekin Raju ke guilt admission ne company ko “Asatyam” ka naam de diya hai.
