Page 8 - Satyam Scam

Enforcement Directorate files charges in Satyam case

Seeks prosecution of Raju brothers, 45 others and 166 alleged front companies for laundering ill-made money

India's top 5 corporate scams stuck in judicial quagmire

India's top 5 corporate scams jammed in court delays

Lessons from the Satyam scam

Get worried when a company proposes something unusual and exit if you are not sure

What is Raju doing now?

Raju is now seen attending wedding and other functions within his Kshatriya community, besides rare public appearances at parties and 'dos' organised by 'close' friends

Court convicts Satyam Raju's kin in tax evasion case

A local court on Thursday convicted director of 19 companies, whose promoters include erstwhile Satyam Computer Services Limited former chairman B Ramalinga Raju's wife Nandini Raju and sons Teja Raju and Rama Raju, for allegedly evading income tax.

Raju's baby reborn & growing even as those accused stay on bail

The arguments in the case are still continuing and none is in a position to say when they will be concluded.

Sebi to make related-party transaction norms more stringent

Sebi may soon tighten its norms for 'related party transactions' of listed companies, by mandating greater disclosures and barring concerned parties from voting for shareholder approvals to such deals. The regulator also plans to widen its definition of 'related party transactions (RPTs)', while making it tougher for promoters and others to use such deals for personal gains. Besides, the companies may have to adopt a 'policy on RPTs' and make the same public for benefit of all stakeholders, according to a new set of norms being finalised by the Securities and Exchange Board of India (Sebi). The market watchdog has suggested that boards of listed companies should prepare a policy on dealing with RPTs and the same should be disclosed on its website as well as the annual report. Observing that mandatory real time disclosures of RPTs might be onerous and could pose practical difficulties for companies to comply with, Sebi has said fragmented reporting of such dealings may not serve

Have Independent directors finally found their voice?

The introduction of SEBI's Clause 49 in 2004 - brought in to strengthen internal governance systems via improvements in board structures, independent director responsibilities, audit committee functions and financial disclosure norms - and the resultant tightening of regulations post the Satyam fraud in 2009 are among actions seen as watershed moments in corporate governance reforms in India. The new Companies Act of 2013 as well as recent governance norms made public by the regulator last month have further reinforced the importance of good board practices.

Satyam Raju appears in court in money laundering case

On 28 October 2013, the ED had filed a charge sheet against Raju and 212 others before the XXI additional magistrate court in Hyderabad

ICAI to ban three auditors in Satyam case

New Delhi, 22 AprilThe Institute of Chartered Accountants of India (ICAI) is set to ban three of its members, including Price Waterhouse partners Srinivas Talluri and S Gopalakrishnan, for life, with regard to the Rs 14,000-crore Satyam accounting scam. The third member to be banned is V Srinivasu, senior vice-president and director at erstwhile Satyam Computer Services.ICAI has also imposed a fine of Rs 5,00,000 on each of the three. This will mark the end of ICAI's investigation into the country' biggest corporate scam, unearthed in 2009.ICAI President K Raghu on Tuesday said the three members had been barred from practising as chartered accountants for life, adding their names would soon be removed from the institute's register of members.Talluri and Gopalakrishnan were part of Price Waterhouse, Bangalore, Satyam's statutory auditor from 2000 to 2009. While Talluri was signing partner and engagement leader of the audit team working with Satyam, Gopalakrishnan was partner.ICAI's ...

Speedy justice needed

Legal process should not dilly-dally in Jignesh Shah case

Satyam fraud case verdict date may be fixed tomorrow

Touted as the country's biggest accounting fraud, the scam came to light on Jan 7, 2009

Court to fix date for Satyam verdict on June 26

A special court trying the case of multi-crore rupee accounting fraud in erstwhile Satyam Computer Services Limited (SCSL) today said it will pronounce the date of judgement on June 26.

Satyam case: Court to pronounce date of verdict on July 28

A special court trying the case of multi-crore rupee accounting fraud in erstwhile Satyam Computer Services Limited (SCSL) today said it will pronounce the date of verdict on July 28.

Verdict date in Satyam case next month

The trial in the five-and-a-half year case, touted to be the biggest corporate fraud in the country, has been completed last week

Satyam fraud: Sebi digs out mismatch worth over Rs 12,000 cr

The Satyam saga, which rattled India over five-and-a-half years ago as its biggest corporate fraud, has turned out to be a case of financial mis-statements to the tune of approximately Rs 12,320 crore, as per Sebi's probe

Satyam case: Sebi bans Raju for 14 yrs; seeks Rs 1,849cr

Money needs to be deposited with Sebi within 45 days, while interest would be levied at 12% per annum with effect from Jan 2009

Sebi to recover Rs 3,000 cr from five Satyam execs

Raju, aides barred from markets for 14 years

Raju & associates may appeal against Sebi order

Sebi could also attach properties, prosecute individuals

Bhupesh Bhandari: Revisiting the Satyam scam

The 65-page Sebi order throws new light on how Mr Raju and others falsified the accounts of the company and gained from it