Page 3 - Satyam Scam
SC cancels bail to PWC partner, Satyam audit head
The CBI had challenged the bail granted to Gopalakrishnan and Gupta, both accused in the allegedly Rs 14,000 crore- Satyam scam, by the Andhra Pradesh High Court in June 2010.
SC issues notice to govt on Maytas mgmt dispute
A three-judge Bench headed by Chief Justice SH Kapadia issued notice to the government seeking reply to the pleas challenging its decision to take over the firm's management
Satyam, TechM merger may get delayed: Nayyar
The company had earlier indicated that both the entities would be integrated by FY12.
Q&A: Vineet Nayyar, Chairman, Mahindra Satyam
In just two years after taking over Mahindra Satyam (the brand identity of Hyderabad-based information technology outsourcing company Satyam Computer Services), its parent company Tech Mahindra is looking at inorganic growth to take Satyam, which it had nursed back to health, to do a marathon. Mahindra Satyam Chairman Vineet Nayyar shares with K Rajani Kanth the company's mergers and acquisitions strategy, investment plans and new verticals that show promise for the future.
Satyam case: ICAI to fast track proceedings against auditors
After the Satyam scam broke in January 2009, the apex body of chartered accountants found four auditors guilty of misconduct
Satyam case: HC rejects auditors plea on disciplinary action
The regulatory body of chartered accountants had initiated separate disciplinary proceedings against the official auditors of the scam-hit Satyam Computer
Satyam case: SAT allows cross-examination of witnesses
While passing the order, the Tribunal also directed the PriceWaterhouse (PW) to cooperate with the Board and help early completion of the enquiry into the matter.
SAT allows PW access to former Satyam brass
Price Waterhouse (PW) has won a battle against the capital markets regulator, though the war is far from over. In yet another instance of the appellate body over-ruling the order of the regulator, the auditing firm of the erstwhile Satyam Computers has been allowed to cross-examine the former top brass of the software firm. The regulator has also been directed to complete the inquiry within four months.
CBDT order on Satyam won't take effect for 2 weeks: SC
The apex court's direction came on an application filed by Mahindra Satyam seeking a clarification on an order passed by the apex court in the matter on April 15 this year.
Burying the Satyam ghost
Challenges remain, but Tech Mahindra has managed to bring back some shine to the battered brand.
Satyam trial to be over by July deadline: CBI
The Central Bureau of Investigation (CBI), which is probing the multi-crore-rupee Satyam Computer accounting scam, says trial proceedings were in full pace and would be completed within the deadline.
Audit firms may also face action in Satyam-like cases
New Companies Bill to propose equal responsibility of auditors, firms.
Satyam mulls options against insurers on disputed claims
Such D&O Policy included protection to the company in the event of a 'Securities Claim' as defined.
Auditor's accountability
Srinivas Talluri and S Gopalakrishnan, the two auditors responsible for auditing Satyam Computer’s fake accounts, languished in jail. But the audit firm that they represented, PricewaterhouseCoopers (PwC), continues to have some of the bluest of blue chips on its client list. Had Ramalinga Raju, Satyam’s founder, confessed to fraud after the new Companies Bill was passed by Parliament, it is likely that PwC would have suffered much heavier consequences than the regulator’s scrutiny. At least that is what the Union ministry of corporate affairs would like to ensure. Although auditors and their representative institutions are likely to object, there is some merit in this proposal. Two issues arise in this context, both from the Satyam case, which has proved a landmark in India on the question of the role of the auditors.
Supreme Court to hear Satyam auditors' plea on August 1
Two auditors embroiled in the multi-crore Satyam accounting scandal have approached the Supreme Court against a lower court order that permitted the Institute of Chartered Accountants of India (ICAI), the country’s accounting regulator, to initiate disciplinary proceedings against them.
Satyam scam: Raju, others may file bail plea tomorrow
It is, however, not clear whether all the eight accused who are currently lodged in Chanchalguda prison will file the bail petition tomorrow.
Proceed against Satyam auditor after Oct 3: SC to ICAI
It also said, "ICAI shall ensure that the date fixed by it for hearing does not clash with the trial."
Satyam case: Raju, six others file bail pleas
Earlier, cancelling Raju's bail, the Supreme Court directed the accused may file bail application only after July 31, 2011 if the trial in the case is not completed in the local court by then
Satyam case: Ramalinga, 7 others bail pleas rejected
The accused had sought bail on the grounds that the trial in the Satyam scam was not completed before the stipulated time of July 31 and all the prosecution witnesses were examined
Q&A: Vineet Nayyar & C P Gurnani, Mahindra Satyam
Mahindra Satyam is optimistic the crisis in the US would not have any adverse impact on it. While announcing the first-quarter numbers on Tuesday, chairman Vineet Nayyar and chief executive C P Gurnani shared with reporters the company’s efforts to strengthen its presence in the US, delisting of American Depository Shares (ADSs) from the New York Stock Exchange (NYSE), etc.
