Satyam founder quits after admitting Rs.40 bn fraudJanuary 6th, 2009 HYDERABAD - Satyam Computer Services founder chairman B. Ramalinga Raju resigned from the IT major's board after admitting a fraud to the tune of Rs.40 billion ($823 million) in the balance sheet of the company.
Two Pricewaterhouse officials arrested in Satyam fraudJanuary 23rd, 2009 HYDERABAD - Two officials of PricewaterhouseCoopers, the firm that audited fraud-hit Satyam Computer Services' books, were arrested Saturday for their alleged role in the irregularities. The Crime Investigation Department (CID) of the Andhra Pradesh police, probing the Rs.70 billion (Rs.7,000 crore/$1.43 billion) fraud in the IT bellwether, arrested chief relationship partner S.
Satyam investigation handed over to CBIFebruary 15th, 2009 HYDERABAD - The Satyam fraud investigation has been been handed over to the Central Bureau of Investigation (CBI), Corporate Affairs Minister P.C. Gupta said here Monday.
Police to probe Satyam fraudJanuary 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.
One more independent director quits Satyam boardDecember 28th, 2008 BANGALORE - In a day of swift developments, independent director M. Rammohan Rao resigned from the board of IT major Satyam Computer Services, the company said Monday.
Maytas director C.S. Bansal quitsJanuary 29th, 2009 HYDERABAD - C.S. Bansal Friday resigned as director of Maytas Infra Limited, the firm promoted by disgraced founder and former chairman of Satyam Computer Services B.
Satyam denies top executives fled IndiaJanuary 14th, 2009 HYDERABAD - Fraud-hit Satyam Computer Services Thursday denied that its top executives had fled the country. The IT bellwether termed as 'malicious' reports in a section of media that its executives Ram Mynampati, Virender Aggarwal and Keshab Panda left the country to avoid questioning by authorities investigating the Rs.70 billion ($1.43 billion) fraud.
Ram Mynampati in US, says Satyam spokespersonJanuary 12th, 2009 HYDERABAD - Former interim CEO of Satyam Computer Services Ram Mynampati is in the US, the company clarified Tuesday while denying reports that he had been arrested by Andhra Pradesh police. A Satyam spokesperson said Mynampati was meeting clients in the US and the reports of his arrest and interrogation were not true.
Congress accuses Naidu, NDA of complacency in Satyam episodeJanuary 12th, 2009 NEW DELHI - A parliamentarian had raised the issue of irregularities in Satyam Computer Services way back in 2001 but then Andhra Pradesh Chief Minister N. Chandrababu Naidu and the National Democratic Alliance (NDA) government had ignored the matter, the Congress party said Tuesday.
Post-Satyam scam, PWC India to set up advisory boardMarch 5th, 2009 CHENNAI - Global audit firm PricewaterhouseCoopers (PwC) is cleaning up its Indian stables in the wake of the accounting scandal in Satyam Computer Services. According to a statement by the firm, an advisory board is being set up to provide guidance to the PwC leadership on its strategy and actions.
PriceWaterhouse suspends Satyam-linked duoJanuary 26th, 2009 HYDERABAD - PriceWaterhouse has suspended two of its employees for their alleged involvement in the fraud at Satyam Computer Services, the Indian arm of the global auditing firm said Tuesday. 'In light of recent allegations, chief relationship partner S.
Tarun Das among three new directors on Satyam boardJanuary 14th, 2009 NEW DELHI - The government Thursday appointed three more directors to the board of the fraud-hit Satyam Computer Services, including Tarun Das, the chief mentor of the Confederation of Indian Industry (CII). The other two members announced by Corporate Affairs Minister P.C.
Two Price Waterhouse partners arrested for Satyam fraudJanuary 23rd, 2009 HYDERABAD - Two partners of Price Waterhouse, the firm that audited fraud-hit Satyam Computer Services' books, have been arrested, police said Saturday. The Crime Investigation Department (CID) of the Andhra Pradesh police, probing the Rs.70 billion (Rs.7,000 crore/$1.43 billion) fraud in the IT bellwether, arrested chief relationship partner S.
No government bailout package for Satyam: MinisterJanuary 14th, 2009 NEW DELHI - The government has no plans to unveil a bailout package for fraud-hit Satyam Computer Services and the company's new board will decide its future course of action, Minister of State for Industry Ashwani Kumar has said. 'This government is not going to either directly or indirectly subsidise the wrongdoing and fraud in Satyam,' Kumar told reporters on the margins of an international conference on petroleum sector here Thursday.
Multiple agencies continue probe into Satyam fraudJanuary 13th, 2009 HYDERABAD - The Andhra Pradesh police is sifting through documents seized from Satyam Computer Services and its auditors PricewaterhouseCoopers (PwC) in connection with the Rs.70-billion ($1.43 billion) accounting fraud, the police said Wednesday. 'There are many documents and data available to us.
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