UK, Singapore respond to LOR seeking help in Satyam probe

Written by: Pti
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Hyderabad, Feb 6 (PTI) In a development that willfacilitate further probe into the multi-crore Satyam scam, theCBI has received response from UK and Singapore authorities tothe Letter of Rogatory (LOR), a senior officer said.

LORs -- a formal request from a court here to a foreigncourt for judicial assistance -- were sent to six countries:USA, UK, Belgium, British Virgin Islands, Mauritius andSingapore, seeking information in connection with Satyam case.

The CBI has alleged in its chargesheet that B RamalingaRaju, former chairman of the company and the prime accused,diverted funds to foreign countries.

"Singapore and UK gave interim LORs and asked us for someclarifications and we replied to them. The communicationchannel is open. We are confident that we may get replies fromother countries too," the CBI official said on the conditionof anonymity.

The new management of Satyam Computers, under TechMahindra, had found that Raju and his aides fudged theaccounts not only to show non-existent revenues and profits,but also to make money by getting some projects awarded to thecompany outside its accounting system and pocket the revenue.

Satyam�s management had said in a document released toexplain the financial restatement last year that since onlyRamalinga Raju and his brother Rama Raju (who was thenmanaging director) had signatory powers on most bankaccounts, it was possible that there were undisclosed bankaccounts in foreign countries in which funds could have beendiverted. .

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