New Delhi: Outraged over a case filed by Satyam against it, audit firm Price Waterhouse on Monday said it was an attempt to shift responsibility to auditors. "Price Waterhouse India is outraged that Satyam is attempting to shift responsibility to auditors for the consequences of a carefully and deliberately concealed fraud that was undertaken at the direction of its own senior management," said a statement by the audit firm. The...
09:19 AM, Jan 10, 2012
New Delhi: The Supreme Court granted bail to former Satyam CEO B Ramalinga Raju and two others on Friday. Raju has been in jail for two years and eight months. He was arrested in connection with the multi-crore accounting fraud involving Satyam. The apex court had on October 12 granted bail to five other accused in the case. The former Satyam employees, who were granted bail, are its former Internal...
01:12 PM, Nov 04, 2011
New Delhi: Satyam founder B Ramalinga Raju and his brother B Rama Raju, arrested in connection with the multi-crore accounting fraud involving the IT firm, will have to remain in jail during Diwali as the Supreme Court on Friday refused to give them interim relief saying they have delayed in approaching it. The apex court, however, agreed to give an early hearing to their pleas and issued notice to CBI...
12:19 PM, Oct 21, 2011
New Delhi: Unable to stick to the time frame to complete proceedings in the trial against former Satyam chief B Ramalinga Raju and nine others accused in the multi-crore Satyam accounting fraud case, CBI has approached the Supreme Court seeking more time to complete the task. In an interim application filed by the investigating agency, the CBI submitted that it would complete the trial proceedings by the end of October....
10:42 AM, Sep 18, 2011
Mumbai: The Income Tax Department has slapped a tax demand of Rs 2,114 crore on IT firm Mahindra Satyam (erstwhile Satyam Computer Services), after disallowing exemptions claimed by the company. "The company has received draft notices of demand for Rs 1,037.69 crore and Rs 1,075.73 crore for assessment years 2002-03 and 2007-08, respectively," Mahindra Satyam said in a filing to the Bombay Stock Exchange. A senior official of the company...
08:47 PM, Aug 22, 2011
Hyderabad: Satyam scam accused B Ramalinga Raju and five others on Wednesday moved their bail petitions in the metropolitan sessions judge court following a direction from the Andhra Pradesh High Court. The bail petitions are likely to come up for hearing once the documents are scrutinised and kept for listing. The high court while rejecting the bail pleas of Raju and five others on Tuesday asked them to first approach...
11:45 PM, Aug 10, 2011
Hyderabad: A Special Central Bureau of Investigation (CBI) court on Thursday dismissed the bail petition of Satyam Computer scam accused B Ramalinga Raju and seven others. The XXI Additional Chief Metropolitan Magistrate (ACMM) court had on Wednesday reserved its order on the bail of Raju and seven other accused. CBI counsel K Surender had opposed the bail pleas of the Satyam accused claiming there was no change in circumstances and...
11:16 AM, Aug 04, 2011
Washington: US market regulator SEC on Tuesday said that India's fraud-hit Satyam Computer Services, now Mahindra Satyam, has agreed to pay $10 million to settle charges related to the accounting scam by its promoter B Ramalinga Raju. It also said five India-based affiliates of Price Water House Coopers (PWC), auditors to Satyam Computer, have agreed settle the SEC charges and pay $6 million in penalty. "Satyam, whose new leadership cooperated...
11:52 PM, Apr 05, 2011
Hyderabad: B Ramalinga Raju, the prime accused in the multi-crore Satyam accounting fraud, and five others surrendered before a trial court in Hyderabad on Wednesday. Ramalinga Raju, his brother B Rama Raju, former Satyam CFO V Srinivas and three other former employees of the IT firm -- G Ramakrishna, Venkatapathi Raju and Srisailam -- surrendered before the 21st additional chief metropolitan magistrate as the Supreme Court had last month cancelled...
12:46 PM, Nov 10, 2010
In a big blow to B Ramalingam Raju, former chairman of Satyam Computers, the Supreme Court on Tuesday rejected a petition seeking an extension of his bail. He will now have to surrender before a special CBI court in Hyderabad. ...
08:54 AM, Nov 10, 2010
New Delhi: The Supreme Court has refused to give more time to former Satyam Computers chairman B Ramalinga Raju to surrender in the multi-crore accountying fraud in the IT major. The apex court heard his petition seeking an extension of time on Tuesday but directed him to surrender on November 10. The apex court has already cancelled Raju's bail. He has moved an application in this regard on account of...
01:54 PM, Nov 09, 2010
New Delhi: The Supreme Court on Tuesday cancelled the bails granted to Satyam Computer founder B Ramalinga Raju, his brother B Rama Raju and four others by the Andhra Pradesh High Court in the Rs 14,000-crore accounting fraud. Hearing the CBI plea, a Supreme Court bench comprising Justices Dalveer Bhandari and Deepak Verma today cancelled the bails and asked all six persons to surrender by November 8. Observing that the...
03:15 PM, Oct 26, 2010
Hyderabad: Former Satyam Chairman Ramalinga Raju left CBI office after almost four hours of questioning for the second day on Wednesday. Raju was accompanied by his brother Rama Raju and former CFO Srinivas Vadlamani in the CBI office. The CBI questioned Raju in the 14 thousand crore accounting fraud for the second day on Wednesday. He was questioned for two hours on Tuesday at the CBI office in Hyderabad. The...
10:40 AM, Oct 06, 2010
New Delhi: Satyam founder and ex-chairman Ramalinga Raju finally, on Tuesday, appeared before the CBI court in Hyderabad for questioning over illegal money transfers abroad. He has been evading the CBI questioning citing ill health so far. He is the man charged in India's biggest corporate fraud. It has been 20 months since the CBI has taken over the case. For the first time the CBI has got to grill...
08:41 PM, Oct 05, 2010
Hyderabad: Satyam Founder and ex-chairman Ramalinga Raju has reached the CBI court in Hyderabad for questioning. He was required to appear before the CBI daily as per his bail conditions but was exempted from it as long as he was in hospital. He was released from hospital on Saturday after being treated for Hepatitis C. CBI had issued a notice to Raju on Monday asking him to appear before it....
10:44 AM, Oct 05, 2010
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