1. INTRODUCTION:Maytas Infra Ltd., a Hyderabad-based infrastructure development company, wasembroiled in a significant financial scandal in 2009. Founded by B. RamalingaRaju, the same individual behind the infamous Satyam Computer Services fraud,Maytas Infra became the center of attention due to its financial irregularities. Thiscase study delves into the events surrounding the financial statementmanipulation at Maytas Infra, examining the methods employed, theconsequences faced, and the lessons learned.2. BACKGROUND:Maytas Infra was established as a subsidiary of Satyam Computer Services,focusing on infrastructure projects such as roads, bridges, and urbandevelopment. The company's operations were closely linked to Satyam, with bothentities sharing leadership and resources. In December 2008, Satyam announcedplans to acquire Maytas Infra and Maytas Properties for $1.6 billion, a move thatwas met with shareholder opposition and eventually called off. However, theconnection between the two companies would soon lead to financial scrutiny.