OverviewB. Ramalinga Raju (Raju) and his brother-in-law founded Satyam Computer Services Limited (Satyam) in 1987. The company initially started with 20 employees and grew to become the fourth largest software exporter in India. It went public on the New York Stock Exchange in 2001 with revenues exceeding $1 billion. During the 1990s, the company experienced considerable growth and the formation of new subsidiaries including Satyam Infoway, India's first NASDAQ-listed Internet company. The company continued to grow in the early 2000s also through mergers and acquisitions; its client portfolio grew to include companies such as Microsoft, Emirates, TRW, i2 Technologies and Ford. Satyam had established itself as a global IT company. In 2008, Satyam's revenues exceeded $2 billion. He received the “Golden Peacock Award” for excellence in corporate governance from the World Council for Corporate Governance. Its external audit firm was PricewaterhouseCoopers (PWC) and Merrill Lynch was its advisor on the deal. Its board of directors consisted of executives and non-executives of the company. All the company's quarterly and annual filings appeared to be compliant with Indian and American regulatory agencies and stock exchanges. However, Raju had artificially inflated these financial statements. In 1988, Raju and his family founded a group of companies called Maytas. The Maytas Group included Maytas Properties and Maytas Infrastructure Limited. Raju's two sons headed the Maytas group. Raju used his political connections to assist Maytas Infrastructure Limited in procuring government contracts for irrigation, power and transportation. Additionally, he purchased land through Maytas Properties using f...... middle of paper ......business-news-stock-market-and-financial-advice>."Business vs. Ethics: The Tradeoff With India? " 2012. Knowledge@Wharton. Ed. The Wharton School. University of Pennsylvania. Network. April 1, 2014. .Kanodia, Shahana Basu. "The Empty Bowels of 'Jugaad' Culture." March 3, 2013. IndiaToday. Network. 1 April 2014."Principles of corporate governance." 2012. Harvard School of Law Forum. Ed. Noam Noked. Network. 2 April 2014. .PTI. "Tata Group's Most Valuable Brand in India; Apple Ranks No. 1 Globally: Global Study." February 14, 2014. The Times of India. Network. April 1 2014. .