Satyam executives to stay put despite massive fraud

January 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.

January 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.

January 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.

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.

March 12th, 2009 NEW DELHI - The Delhi High Court Thursday dismissed a plea seeking a stay on selling new shares of the fraud-hit Satyam Computer Services Ltd. A division bench headed by Chief Justice Ajit Prakash Shah and Justice Sanjeev Khanna, dismissing the plea, said it was not a public interest litigation matter and should be dealt with separately.

February 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.

January 19th, 2009 HYDERABAD - Investigators quizzed disgraced founder and former chairman of Satyam Computer Services B. Ramalinga Raju and two other former top executives of the company for the third day Tuesday in connection with the Rs.70 billion (Rs.7,000 crores/$1.43 billion) fraud.

January 16th, 2009 CHENNAI - The government-appointed board of Satyam Computer Services Limited will have to define the scope of work for the city-based Brahmayya & Co that has been appointed as the beleaguered IT bellweather's internal auditor, an official of the accounting firm said Saturday. 'We were sounded out about the assignment by the authorities and we gave our consent.

August 3rd, 2009 GEELONG - The Silicon Valley dream for the Australian city of Geelong were shattered when the massive accounting fraud with its potential partner, Indian IT giant Satyam surfaced in January this year. ollowing job losses in the car manufacturing sector, Geelong could not have asked for more when the plan was proposed for a massive 75 million dollar IT hub at Deakin University.

January 8th, 2009 HYDERABAD - Disgraced Satyam chief B. Ramalinga Raju will appear before market watchdog Securities and Exchange Board of India (SEBI) at 4 p.m.

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 10th, 2009 HYDERABAD - The Crime Investigation Department (CID) of Andhra Pradesh police Sunday continued interrogation of Vadlamani Srinivas, the former chief financial officer (CFO) of the IT bellwether Satyam Computers, in connection with the Rs.70 billion fraud. CID officials said they would produce Srinivas before a magistrate later in the day.

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 17th, 2009 HYDERABAD - Disgraced founder and former chairman of Satyam Computer Services B. Ramalinga Raju and two other former top executives were Sunday taken into police custody for further interrogation in connection with the Rs.70 billion (Rs.7,000 crore/$1.43 billion) fraud.

January 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.