CBI registers case against Raju, others in Satyam scam

February 17th, 2009 NEW DELHI - The Central Bureau of Investigation (CBI) Wednesday will take over the investigation into the Rs.70-billion (Rs.7,000-crore/$1.43 billion) Satyam accounting fraud from the Andhra Pradesh police. 'We have received the notification from the government of India to take over the Satyam Computers scam cases from CID, Andhra Pradesh.

February 9th, 2009 NEW DELHI - The Satyam Computer Services scam is 'just a case in isolation' and it would not affect the image of India's IT industry, a Singapore diplomat said here Tuesday. 'What happened to Satyam came as a surprise and shock, but we are pleased at the speed of the Indian government that has replaced the board with very credible and highly respected individuals,' Tommy Koh, ambassador-at-large at Singapore's ministry of foreign affairs, said.

January 27th, 2009 HYDERABAD - A court here Wednesday dismissed the appeal of Satyam Computer Services disgraced founder B. Ramalinga Raju, his brother B.

March 7th, 2009 HYDERABAD - B. Suryanarayana Raju, the younger brother of disgraced founder of Satyam Computer Services B.

February 9th, 2009 NEW DELHI - Terming the Satyam Computer Services scam a 'singular case', a senior Singapore diplomat said here Tuesday that India would be able to face up to the crisis and emerge 'stronger' from it. 'What happened to Satyam came as a surprise and shock, but we are pleased at the speed of the Indian government that has replaced the board with very credible and highly respected individuals,' Tommy Koh, ambassador-at-large at Singapore's ministry of foreign affairs, told reporters.

January 22nd, 2009 HYDERABAD - Disgraced Satyam Computer Services founder B. Ramalinga Raju bought lands not only in India but in other countries also, prosecutors told a court here Friday.

January 9th, 2009 NEW DELHI - India's capital market regulator C.B. Bhave met Corporate Affairs Minister P.C.

January 6th, 2009 BANGALORE - Satyam Computer Services Ltd founder chairman B Ramalinga Raju and managing director B Rama Raju resigned from the board Wednesday, the company announced. In a notification to the stock exchanges, the Hyderabad-based IT firm said Ramalinga Raju and Rama Raju have tendered the resignations earlier in the day and the regulator (SEBI) has been informed.

February 5th, 2009 NEW DELHI - Noted technocrat Kiran Karnik was Friday named chairman of the scam-hit Satyam Computer Services even as the probe by the Serious Fraud Investigation Office was extended to 325 more companies associated with the beleaguered firm. Corporate Affairs Minister P.C.

January 7th, 2009 MUMBAI - Scam-tainted Satyam Computer has been de-listed by the Bombay Stock Exchange (BSE) with effect from Jan 12, the BSE said in a statement Thursday. The scrip closed at Rs.39.95 Wednesday after a 77.69 percent freefall after the company's founder-chairman B.

February 21st, 2009 HYDERABAD - A 16-member team of the Central Bureau of Investigation (CBI) Saturday took over the probe into the Rs.70-billion (Rs.7,000-crore/$1.43 billion) Satyam Computer Services accounting fraud. The team led by CBI Deputy Inspector General V.V.

February 11th, 2009 NEW DELHI - The Satyam scam was a 'one-off, unfortunate case of failure of corporate governance', Minister for External Affairs Pranab Mukherjee said here Thursday. Addressing a meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI), Mukherjee said: '(Satyam) was an unfortunate case of failure of corporate governance… It was a one-off case.

January 20th, 2009 MUMBAI - India's markets watchdog Wednesday decided to tighten the disclosure norms for company promoters who pledge shares with lenders, finding lapses during its probe into the Rs.70-billion Satyam Computer Services scam. 'The founders must disclose shares with lenders,' C.B.

January 9th, 2009 HYDERABAD - In the third arrest in the Satyam Computer Services scam, the former chief financial officer (CFO) of the IT bellwether Vadlamani Srinivas was held by Andhra Pradesh police Saturday night in connection with the Rs.70 billion fraud. Srinivas was very close to the company's founder chairman B.

January 19th, 2009 NEW DELHI - The IT bellwether Satyam Computer Services, embroiled in a Rs.70 billion ($1.7 billion) financial scam, has received buyout offers from both domestic and foreign firms, its new board member Tarun Das said Tuesday. 'Satyam has got enormous fixed, human resources and technology assets.