New Delhi: The Central Government has nominated three more members to Satyam Computers Services Ltd board raising its strength to six.
Union Minister of Corporate Affairs Prem Chand Gupta said that the government is strengthening the board and had nominated Confederation of Indian Industry (CII) Chief Mentor Tarun Das, ex-Institute of Chartered Accountants of India chief [...]
HYDERABAD, India (Reuters) - Contemplating his fate from a prison cell, his reputation shattered, Ramalinga Raju, the founder of India’s Satyam Computer Services, can still rely on supporters to whom he will always be a hero.
Across the southern city of Hyderabad, home to No. 4 software services firm Satyam , prayers are being said for [...]
New Delhi: HDFC chairman and Satyam Computer board member Deepak Parekh on Thursday said the crisis-ridden IT company can raise funds by mortgaging its assets, dispensing with the need to look for government aid. HDFC Chairman said that the board will meet on Saturday.
He said that KPMG and Deloitte have started auditing the books of [...]
CHENNAI: Apparently fearing that he may lose his job, a 23-year-old employee of scam-ravaged Satyam Computers allegedly committed suicide here,
police said.
Vishwa Venkatesan, hailing from Salem, yesterday consumed poison. He was referred to the General Hospital where he died, they said.
Fear of losing his job drove him to take the extreme step, they said.
Venkatesan had earlier [...]
Investigators probing the financial manipulation in Satyam Computer suggest promoter Ramalinga Raju’s accounting skills seem to be too good to crack.
Sources tell Network 18 investigating agencies have called for the services of forensic accounting experts from KPMG to crack the scam.
KPMG and Delloite are now restating the accounts of satyam. Sources also say [...]
The government has ruled out any bailout package for crisis-ridden Satyam Computer, but assured to do everything required to save jobs under the framework of its responsibilities.
“This is a decision that the new board of Satyam would take. This government is not going to directly or indirectly subsidise wrong doing and fraud in Satyam,” Minister [...]
NEW DELHI: Satyam’s senior management executive Ram Mynampati has informed the government that the troubled IT firm would need Rs 150 crore to meet insurance liabilities of its US employees.
“We have received a mail or two from Mynampati. They indicated that they would need something of the order of Rs 150 crore to take care [...]
Market regulator Sebi’s special team, set up to probe into the financial irregularities in Satyam Computer, has set its focus among other things on alleged ‘insider trading’ carried out by top executives in the IT firm in the recent past, sources said.
“Our major concerns in this case include any insider trading activities that [...]
New Delhi: SEBI is itching to go into the Satyam probe but all that it can do now is wait - wait for the courts to allow them to interrogate B Ramalinga Raju and gang and wait for police to give them access to the documents.
The SEBI lawyer says this will delay a probe into [...]
New Delhi: The new Satyam Computers Services Ltd board has made it clear that it is not interested in a government bailout for the IT company.
Speaking exclusively to Network18, Kiran Karnik, one of the members of the reconstituted Satyam board, said that a government grant, subsidy or bailout is not in the best interest of [...]
Regulatory authority SEBI has claimed that their investigations into the Rs 7000-crore Satyam scam are being hampered. Does it suggest that there is another political twist in the Raju tale?
Who can get to Raju first? The SEBI is hoping that they can, but it seems like that will happen only once they cross the legal [...]
NEW DELHI: The Income Tax (I-T) department has recalled a 2002 investigation report against the promoters of Satyam that had details of a probe conducted by I-T sleuths on family members and associates of B Ramalinga Raju in Hyderabad.
Not believing the confession of Raju that the company was left with no cash, and with investigations [...]
Satyam’s former interim CEO Ram Mynampati is not the only one to quietly go abroad. Two other senior staffers of Satyam are also currently out of India.
While senior vice president and director Virendra Agarwal has gone to Singapore, another senior VP and director Keshub Panda has pushed off to London. Mynampati, now in the US, [...]
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