iGate has been slapped with class action lawsuit in the US for alleged violations of federal securities laws in view of its sacked CEO Phaneesh Murthy's "improper relationship" with a subordinate employee.
The Companies Bill, 2012 will change how large audit firms work.
Four years ago, on 7th January 2009, Ramalinga Raju, the Chairman of India‘s fourth largest IT Company Satyam confessed to having overstated the company‘s assets by over $1 billion.