Satyam case: Court to pronounce judgement on December 23
31/10/2014
New Delhi: A special court in Hyderabad trying the multi-crore accounting fraud involving the Satyam Computer Services on Wednesday fixed December 23 as the date of pronouncing the judgement.
Earlier, for the hearing of the verdict date, CBI special public prosecutor K Surender said the court had ordered all the accused to appear before it on October 30.
The six year old case, which came to light on January 7, 2009 when its founder Ramalinga Raju confessed to manipulating his company's account books, is touted as the biggest accounting fraud in the country.
Raju also reported confessed that he inflated profits of the company over many years to the tune of several crores of rupees.
Apart from the ownder, those accused in the case include his brother and Satyam's former MD B Rama Raju, ex-CFO Vadlamani Srinivas, former PwC auditors Subramani Gopalakrishnan and T Srinivas, Raju's another brother B Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam, and Satyam's former internal chief auditor V S Prabhakar Gupta.
The trial in Satyam fraud case had concluded in June before the special court, which examined 216 witnesses and marked 3,038 documents during the course of the hearing.
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
In February that year, CBI took over the investigation and filed three charge sheets (on April 7, 2009, November 24, 2009 and January 7, 2010), which were later clubbed into one.
Raju and others were charged with offences like cheating, criminal conspiracy, forgery and breach of trust, under relevant sections of IPC, for inflating invoices and incomes, account falsification, faking fixed deposits, besides allegedly falsifying returns through violation of various I-T laws.
During the trial, the CBI alleged that the scam caused a loss of Rs 14,000 crore to Satyam shareholders, while the defence countered the charges, saying the accused were not responsible for the fraud and all the documents filed by the central agency relating to the case were fabricated and not according to law.
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