A special CBI court in Hyderabad on Monday deferred the judgment in the multi crore Satyam Computer Services accouting fraud till April 9th. The much awaited verdict of one of the most sensational corporate frauds in the country, was earlier scheduled for Monday. Citing voluminous documents in the case, Special Judge BVLN Chakravarthi today said, “On April nine, the judgement will be pronounced. I am making it very clear.”
“It is mandate of the Supreme Court that judgement has to be pronounced. If any obstruction is caused it is contempt of (apex) court, it is your (accused) duty to bring your advocates. Court will go ahead with its proceedings,” he said.
All the 10 accused in the case, who are out on bail, were present in the court on Monday.
Touted as the country’s biggest accounting fraud, Satyam scandal had come to light on January 7, 2009, after Satyam Computer Services Limited’s founder and former chairman B Ramalinga Raju confessed to manipulating his company’s account books. In February 2009, CBI took over the investigation and filed three charge sheets (on April 7, 2009, November 24, 2009 and January 7, 2010), which were later clubbed into one.
Besides Raju, his brother B Rama Raju, former chief financial officer Vadlamani Srinivas, former PwC auditors Subramani Gopalakrishnan and T Srinivas, Raju’s another brother B Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam and Satyam’s former internal chief auditor VS Prabhakar Gupta are also accused in the multi crore accounting fraud.
Apart from SEBI and CBI, the Serious Fraud Investigation Office (SFIO) and Enforcement Directorate (ED) have also booked Ramalinga Raju.
Post a Comment