Satyam Scam

  • ED attaches Satyam founder's property worth Rs 822 cr October 18, 2012

    New Delhi: There is more trouble for Ramalinga Raju, the founder of Satyam. The Enforcement Directorate has attached the properties of Raju that are valued at Rs 822 crore. Raju is out on bail in the Rs 5000crore Satyam scam. In 2009, Raju admitted to an accounting scam and falsifying...
  • Auditing scam in Jagan Reddy's firm November 12, 2011

    Hyderabad: Kadapa MP Jagan Mohan Reddy's firm Jagathi Publications is under scanner. Value of Jagathi Publications was allegedly overstated by Rs 1,000 crore at Rs 3,500 crore. In what is being called another Satyamlike scam, auditing firm Deloitte reportedly admitted to fudging the accounts of the Kadapa MP Jagan Reddyowned...
  • Satyam: Raju, 5 others move lower court for bail August 10, 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...
  • Satyam scam: Raju's bail plea dismissed August 4, 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...
  • Satyam scam: SC cancels bail of PwC partner April 21, 2011

    New Delhi: The Supreme Court on Thursday cancelled the bails granted to PriceWaterhouseCoopers partner Subramani Gopalakrishnan and Satyam's internal auditor VS Prabhakar Gupta, directing them to surrender by April 30. A bench comprising Justice P Sathasivam and Justice BS Chauhan cancelled their bail and directed them to surrender within this period,...
  • MahSatyam settles SEC charges for $10 million April 6, 2011

    Washington: US market regulator SEC on Tuesday said that India's fraudhit 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 Indiabased affiliates of Price Water House Coopers (PWC), auditors to...
  • Satyam scam: SC cancels bail of Raju, 5 others October 26, 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 14,000crore accounting fraud. Hearing the CBI plea, a Supreme Court bench comprising Justices Dalveer Bhandari and...
  • Raju leaves CBI office after 4 hours of grilling October 6, 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...
  • Satyam case: CBI finally grills Ramalinga Raju October 6, 2010

    New Delhi: Satyam founder and exchairman 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...
  • Ramalinga Raju gets bail in Satyam scam case August 18, 2010

    Hyderabad: Former Satyam chairman B Ramalinga Raju was granted bail in the multicrore scam by Andhra Pradesh High Court on Wednesday. The High Court granted bail to Raju on health grounds saying he should not be discharged from the hospital. Raju has been hospitalised at Nizam's Institute of Medical Sciences in...
  • Satyam scam case hearing adjourned to July 29 July 26, 2010

    Hyderabad: The special court dealing with the multicrore Satyam scam case on Monday adjourned examination and hearing of charges against the accused to July 29. Examination and hearing of charges against 10 Satyam personnel accused of fudging books of account of the company, including disgraced former chairman B Ramalinga Raju, will...
  • Govt hopeful US won't penalise Satyam for previous frauds July 13, 2010

    Kolkata: Corporate Affairs Minister Salman Khurshid said in Kolkata on Tuesday the government is hopeful that the capital market regulator in the United States would not impose any penalty on Satyam Computer Services Ltd. The market regulator in India, Securities Exchange Board of India (SEBI) had earlier requested the Securities Exchange...
  • Court to decide on Satyam founder Raju's trial July 4, 2010

    Hyderabad: A special court will on Monday decide whether B Ramalinga Raju, the key accused in the Rs 14,000 crore Satyam scam, should be examined through video conference. The court on Friday directed Raju's lawyer to file a counter to CBI's petition seeking a video linkage between the court and Nizam's...
  • Docs prolonging Raju's treatment to delay trial: CBI March 11, 2010

    Hyderabad: CBI, probing the multicrore financial fraud in Satyam Computers, Thursday alleged doctors were prolonging the treatment of the company's former chairman B Ramalinga Raju only to delay the trial in the case. Raju, the prime accused in the scam who is suffering from HepatitisC is currently undergoing treatment at the...
  • Satyam's Raju a pauper now: US court January 29, 2010

    New York: A US court has declared former Satyam Computers chairman Ramalinga Raju, who last year was jailed after admitting to falsifying his company's accounts by over $1 billion, a pauper, thereby exempting him from paying court costs. Besides Raju, New York judge Barbara S Jones also approved 'pauper' status for...
  • Court permits CBI to conduct forensic tests on Raju July 9, 2009

    Hyderabad: A designated CBI court on Thursday permitted the Central Investigating Agency to conduct forensic tests on Satyam Computers' former Chairman B Ramalinga Raju and others accused in the multicrore accounting fraud in the IT firm. The XIV Additional Chief Metropolitan magistrate, K Sudhakar, accepted the CBI s plea to perform...
  • 10,000 excess staff in Satyam, says new owner May 22, 2009

    New Delhi: Satyam Computer Services' has more than 10,000 excess staff, new owner Tech Mahindra said on Friday, and the fraudhit outsourcer's chairman said revenues remained on a downward slope. Vineet Nayyar, the chief executive of Tech Mahindra which last month won an auction for a controlling stake in Satyam, said...
  • Tech Mahindra wins Satyam Computer bid April 13, 2009

    New Delhi: Tech Mahindra, the IT arm of auto major Mahindra and Mahindra, Monday won the bid for India's fourth largest software exporter Satyam Computer. Satyam's new board of directors, which met to select the highest bidder, chose Tech Mahindra following its bid of Rs 1,757 crore for 31 per cent...
  • Satyam tweaks bid process, price to decide winner April 6, 2009

    The race for Satyam is nearing its climax. The board on Thursday tweaked the bidding process and the winner is likely to be announced by April 15. CNBCTV18's correspondent Ashwin Mohan reports. There was a late evening development on Friday which caught everyone by surprise. There was a slight tweak in...
  • Satyam scam: Three executives arrested, sent to jail April 6, 2009

    Hyderabad: The Central Bureau of Investigation (CBI) has arrested three top executives of Satyam Computer Services Ltd in connection with the Rs 78 billion accounting fraud. Vicepresident, finance G Ramakrishna; general manager, finance, D Venkatpati and another executive in the finance department Srisailam, were on Monday produced before a city court,...
  • Satyam may announce buyer on April 13: report April 5, 2009

    Mumbai: Satyam Computer Services Ltd could announce the buyer of the fraudhit sofware company on April 13, the deadline for submitting financial bids, the Business Standard newspaper said on Sunday. "The submission of bids will happen on April 13. The bids will be opened that day itself and we might...
  • Raju not speaking truth, will take lie detector test March 26, 2009

    New Delhi: The Central Bureau of Investigation (CBI) said on Thursday that disgraced Satyam founder B Ramalinga Raju, his brother and another arrested official are "not sharing everything" in connection with the Rs 7,800crore fraud in the IT major and want them to go through a liedetector test. The probe agency...
  • Satyam informs SEBI, others on bidding process March 25, 2009

    Hyderabad: Scamhit Satyam Computer Services Ltd has informed the Securities Exchange Board of India (SEBI) on its bidding process under the market regulator's amended takeover regulations for selecting an investor to buy majority stake in the company, the IT bellwether said late Tuesday. "A letter relating to the process followed...
  • Satyam scam bigger than disclosed by Raju: CBI March 23, 2009

    New Delhi: The CBI's probe has shown that the Satyam Computer scam involves a much bigger amount, close to Rs 10,000 crore, than what was disclosed by the IT company's founder Ramalinga Raju. Sources said the agency has retrieved over 7,000 fake invoices and forged documents showing fixed deposits and bank...
  • CBI questions Rajus, exCFO in Satyam scam March 10, 2009

    Hyderabad: The investigations into Rs 78 billion (Rs 7,800 crore) scam in Satyam Computer Services picked up momentum as the Central Bureau of Investigation (CBI) Tuesday questioned the IT firm's disgraced former chairman B Ramalinga Raju and four other accused. The CBI's multidisciplinary investigation team (MDIT) headed by the agency's DIG...
  • CBI gets Raju, four others for interrogation March 9, 2009

    Hyderabad: A city court on Monday sent former Satyam chairman B. Ramalinga Raju and four others to sevenday custody of the Central Bureau of Investigation (CBI). The court allowed CBI to take custody of Ramalinga Raju, his brother and former managing director B. Rama Raju, former chief financial officer Vadlamani Srinivas...
  • Satyam begins bidding process for its sale March 10, 2009

    Mumbai: Fraudhit Satyam Computer Services on Monday said that it had started the process to sell 51per cent majority stake in the company by way of a global auction after India's market regulator gave it the goahead last week to do so. The company issued an expression of interest, according to...
  • PostSatyam scam, PWC to set up advisory board March 5, 2009

    Chennai:,/b> Global audit firm PricewaterhouseCoopers (PwC) is cleaning up its Indian stables in the wake of the accounting scandal in Satyam Computer Services. According to a statement by the firm, an advisory board is being set up to provide guidance to the PwC leadership on its strategy and actions. "This board will...
  • RS MPs say AP govt reined in SEBI probe February 19, 2009

    The Rajya Sabha during Question Hour on Thursday saw a major uproar over the Satyam issue with some members accusing the Andhra Pradesh government of not giving the Securities and Exchange Board of India (SEBI) team a free hand to carry out its investigation against the accused. In response, External Affairs...
  • Opposition flays Satyam link of YSR Reddy's sons February 19, 2009

    Hyderabad: The talk of political links of Satyam and Maytas are giving sleepless nights to politicians in Andhra Pradesh. There is continuous pressure from all quarters on AP CM YSR Reddy about his sons links with the troubled IT majors. A CBI probe has been ordered but the accusations from opposition Telugu...