Venture Global Engineering v. Satyam Computer Services Ltd.
- 2022-02-17
The Satyam scandal is known to be India’s greatest corporate trick. It harmed its notoriety with financial specialists, household and remote. The organization distorted its records both to its board, stock trades, controllers, financial specialists and every other partner.
Citation: 2017 SCC Online SC 1272
In 2009 when author director of Satyam Computers Ramalinga Raju admitted that the Company’s records were messed with. He unveiled Rs.7, 000-crore bookkeeping misrepresentation in a critical position sheets. A CBI court sentenced B Ramalinga Raju, his two siblings and seven others to seven years in jail and furthermore forced a fine of Rs 5 crore on Ramalinga Raju, the Satyam Computer Services Ltd.’s. Founder and previous executive, in the Satyam extortion case.
Conclusion:
It is also quite plain and obvious that while the corporation is a different organisation, it is a group of people who are the company’s profit sharers. For the sake of human society, a firm should be framed. Be that as it may, when the corporation shows unlawful or transparent strategy in an alternative manner, the court will inevitably disregard its basic aspect and lift the cloak.
In this way, corporate cover is lifted when in the course of the company’s fuse there may be a manhandle of corporate gadget where the company refers to a legal substance formed that has a separate legitimate personality from its citizens and is typically joined to accept business.
