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Satyam’s bank statements go missing

NEW DELHI: The skeletons just won’t stop tumbling out of Satyam’s cupboard. It now turns out that B Ramalinga Raju and his associates may have spirited away bank statements of the company that hold clues to the massive fraud perpetrated by them.

The Hyderabad office of Registrar of Companies did not find the statements at any of the three Satyam offices in and around the city raided in the morning. The offices have since been sealed.

Companies have to keep bank statements for the current and preceding years at registered offices. It is suspected that the files vanished as they would have given away the fraud, rendering Raju and his accomplices liable for immediate penal action.

Sources said the SFIO team would be multi-disciplinary, drawn from Sebi, RBI, CBI, police, customs, revenue intelligence, besides forensic and banking experts.

Source / Courtesy: Times of India (TOI)