Greed for money, power, competition, success and prestige compelled Mr. Raju to “ride the tiger”, which led to violation of all duties imposed on them as fiduciar- ies—the duty of care, the duty of negligence, the duty of loyalty, the duty of disclosure towards the stakeholders. “The Satyam scandal is a classic case of negligence of fiduciary duties, total collapse of ethical standards, and a lack of corporate social responsibility. It is human greed and desire that led to fraud. This type of behavior can be traced to: greed overshadowing the responsibility to meet fiduciary duties; fierce competition and the need to im- press stakeholders especially investors, analysts, share- holders, and the stock market; low ethical and moral standards by top management; and, greater emphasis on short‐term performance” [28]. According to CBI, the In- dian crime investigation agency, the fraud activity dates back from April 1999, when the company embarked on a road to double-digit annual growth. As of December 2008, Satyam had a total market capitalization of $3.2 billion dollars