Satyam fraud: Raju may get lifer

Written by: Super Admin
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Hyderabad, Apr 8: The Central Bureau of Investigation (CBI), on Tuesday, Apr 7, filed a chargesheet against the nine accused in Satyam scam. The extensive charge sheet includes many allegations of malpractice punishable by law under multiple IPC sections.

In the chargesheet the CBI has named Satyam founder B Ramalinga Raju, his brothers B Rama Raju and B Suryanaryana Raju, former Chief Financial Officer (CFO) Srinivas Vadlamani, PriceWaterhouseCoopers (PwC) auditors S. Gopalakrishnan and Srinivas Talluri, Vice-President of Finance G Ramakrishna and two other employees, Venkatapathy Raju and Srisailam.

The scam involved cheating, falsification of records, inflating accounts, offloading shares, and faking balance sheets. Therefore the CBI has filed the case under sections 120B, 420, 496, 467, 472 and 477A of the IPC.

If Ramalinga Raju is convicted under the Section 467 that deals with forgery of valuable security of will, he will be facing life imprisionment.

Even if the Institute of Chartered Accountants of India (ICAI) found no role of the auditors in the scam, the CBI chooses to depend on its own investigation to prove the guilt of those accused.

“We will depend on our investigation to prove the guilt," said CBI Deputy Inspector General V Lakshminarayana.

He also added that, as more evidences come in, the CBI will be filing supplementary charges against the accused.

UNITES, the union for ITES employees of India has requested the Election Commission to put off the Satyam bidding process untill the formation new government and completion of CBI investigation.

OneIndia News

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