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No bail for Satyam auditors

Press Trust Of India
May 25, 2009 at 10:46pm IST

Hyderabad: The bail pleas of former PriceWaterhouse parters S Gopalakrishnan and Talluri Srinivas, have been dismissed by a local court in Hyderabad.

The duo, who audited the account books of scam-tainted Satyam Computer were arrested after the multi-crore rupee Satyam Computer accounting fraud was revealed.

The VII Additional Metropolitan Sessions Judge (AMSJ) K Radha Rani, rejected the bail applications on the ground that the investigating agency CBI is still probing the scam and it is not proper to grant bail at this stage.

MOTHER OF SCAMS: The Satyam business has been saved from aftershocks of the scam, but the case is far from over.

Gopalakrishnan and Talluri were among nine accused in the multi-crore Satyam financial fraud case.

They are in judicial remand till May 27 along with Satyam former Chairman B Ramalinga Raju. Only a lone accused Suryanarayana Raju of SRSR advisory firm is out of jail on anticipatory bail.

In her order, the judge observed that the former auditors of the firm which audited the accounts of the Satyam have certified its balance sheets.

Last week, the CBI had informed the court that it has enough evidence to prove that Gopalakrishnan and Talluri were guilty in the Satyan financial fraud.

Three top executives quit Satyam BPO

Meanwhile in New Delhi, three senior support managers at Satyam Computer's BPO unit have resigned.

A company spokesperson said Satyam BPO Global Head (Human

Resources) Naresh Jhangiani along with V Satyanandam (Head of corporate services) and Kulwinder Singh (Head of marketing-

Asia Pacific) have resigned.

“Apart from Jhangiani, the other two executives are from middle management. They had put in their papers a month or two back as they look out for better opportunities," the spokesperson said.

Last week Vineet Nayyar, the CEO of Satyam's new owner Tech Mahindra, had said Satyam has an excess staff of 10,000.

The spokesperson said that these exits do not have a bearing to the statement and "there would be no impact on the company of their (three managers) exit".

“The company is trying to make a smooth transition to a simplify the process and no significant impact is expected on the daily operations as these executives work for supporting teams," he said.

Satyam BPO was set up in 2002 as Nipuna and handles most of Satyam customers.

Its clients come primarily from the banking, financial services and insurance verticals along with manufacturing.

It has about 2,400 employees and has one delivery centre each in Hyderabad, Bangalore and Chennai.

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