Congress accuses Naidu, NDA of complacency in Satyam episode

January 8th, 2009 HYDERABAD - The massive accounting fraud in Satyam Computers kicked off a political storm in Andhra Pradesh with Chief Minister Y.S. Rajasekhara Reddy and opposition leader N.

February 2nd, 2009 HYDERABAD - The Andhra Pradesh police will Wednesday and Thursday grill two suspended PriceWaterhouse employees allegedly involved in the Satyam Computer Services fraud. A city court Tuesday sent S.

January 16th, 2009 MUMBAI - The Rs.70 billion ($1.4 billion) financial scam in Satyam Computer Services is an isolated case and does not tarnish the image of the Indian corporate sector in any way, Commerce Minister Kamal Nath said here Saturday. 'India Inc has established its credentials.

January 8th, 2009 HYDERABAD - The crime branch of the Andhra Pradesh police Friday began probe into the Rs.70-billion accounting fraud in the city-based IT service firm Satyam Computer Services, even as the market regulator continued its probe for the second consecutive day and summoned before it the company's former chairman. The Criminal Investigation Department's (CB-CID) team checked records at Satyam's headquarters here and spoke to associates of disgraced former chairman B.

January 6th, 2009 HYDERABAD/NEW DELHI - The Andhra Pradesh government Wednesday ordered a preliminary inquiry by the crime branch of the police into a financial fraud by IT major Satyam Computers. Chief Minister Y.S.

January 7th, 2009 HYDERABAD - Mendu Rammohan Rao, dean of the prestigious International School of Business (ISB) here, Thursday resigned from his position in the wake of the financial fraud at Satyam Computers. He was a member of the Satyam board when the irregularities were committed.

January 7th, 2009 CHANDIGARH - The PHD Chamber of Commerce and Industry, a leading business and industry lobby in north India, Thursday asked the central government not to offer any bailout package for IT bellwether Satyam Computer, which has admitted to an accounting fraud amounting to about Rs.70 billion (Rs.7,000 crore). 'There should be no bailing out of individual frauds like this.

January 9th, 2009 CHENNAI - If justice has to prevail, the government should establish a prima facie case against Satyam Computer's former chairman B. Ramalinga Raju and his brother B.

January 7th, 2009 NEW DELHI - The Bharatiya Janata Party (BJP) and the Communist Party of India-Marxist (CPI-M) Thursday urged the government to take strong and immediate action against those behind the financial fraud at leading IT firm Satyam Computers. The two parties described the over Rs.70 billion (Rs.7,000 crore) scam as the biggest corporate fraud in the country and said the entire episode raised serious concerns about the very legitimacy of Indian market.

June 11th, 2009 MUMBAI - Between 7,000 to 10,000 Satyam employees have been put in a virtual pool, continuing their association with the company but with reduced pay, the IT firm said in a regulatory statement Thursday. The virtual pool programme is an innovative way of retaining the excellent human assets of Satyam despite the difficult economic situation, chairman Kiran Karnik said in the statement.

September 1st, 2009 BANGALORE - Defying the global meltdown, Karnataka earned $17 billion (Rs.74,929 crore) from software exports last fiscal (2008-09) as against Rs.60,800 crore the previous year, registering a 23 percent growth in rupee terms and 21.5 percent in dollar terms. "The export performance of the IT industry in the state, especially Bangalore, demonstrates the knowledge sector remains unaffected by the global meltdown and decline in IT spending overseas," state Information Minister Katta Subbramanya Naidu told reporters here.

January 8th, 2009 HYDERABAD - The Andhra Pradesh police Friday night arrested disgraced former founder-chairman of Satyam Computers B. Ramalinga Raju and his brother and former company managing director B.

September 17th, 2009 NEW DELHI - The Congress party slammed Minister of State for External Affairs Shashi Tharoor 's remarks on the austerity drive on the social networking site Twitter. "Certainly the Congress doesn't endorse or approve it and we find it unacceptable.

January 8th, 2009 HYDERABAD/NEW DELHI - The government Friday evening superseded the Satyam board and dismissed three remaining directors, including two independent ones, of the tainted IT major. The government has cancelled a Satyam board meeting scheduled for Saturday in Hyderabad.

January 9th, 2009 HYDERABAD - Disgraced former chairman of Satyam Computer B. Ramalinga Raju and his brother and former company managing director B.