Satyam News

The bench of SAT ruled that SEBI can not take action against auditors, only ICAI as per law has the power to do so.

A young boy taken to hospital after being rescued from a 100 ft deep borewell, dies.

A local court will take up on Thursday the appeals filed by Satyam Computers founder B Ramalinga Raju and nine others, seeking suspension of their sentences in the multi-crore accounting fraud in the erstwhile IT company.

Raju and his brother and former Managing Director B Rama Raju in their statements before the court narrated about the "philanthropic activities" done by them through agencies like Emergency Management Research Institute (EMRI 108 services) and Byrraju Foundation.

On the basis of the complaint filed by Leena Mangat, a resident of Secunderabad, the CB-CID had filed an FIR on January 9, 2009 against Ramalinga Raju (Chairman), his brother B Rama Raju (MD) and other directors, auditors and others.

Citing voluminous documents in the case, Special Judge BVLN Chakravarthi said, "On April nine, the judgement will be pronounced. I am making it very clear."

Around 3,000 documents were marked and 226 witnesses examined during the trial that began nearly six years back.

A special court here is slated to pronounce on Monday the much-awaited judgement in the multi-crore accounting fraud in erstwhile Satyam Computer Services Limited (SCSL).

A special court here on Monday posted to January 20, the hearing of two complaints filed by market regulator SEBI against Satyam Computers founder and former chairman B Ramalinga Raju and others.

Nearly six years after the multi-crore rupee scam in Satyam jolted corporate India, a special court here will pronounce its verdict on December 23 in the case.

The court has not given any date for judgement, CBI special public prosecutor K Surender said.

The Securities Appellate Tribunal on Monday stayed the Rs 1,849-crore penalty that Sebi had slapped on the founder-chairman of Satyam, B Ramalinga Raju and four others, but upheld a ban on them from accessing the markets.

As per Sebi's order, the money was asked to be deposited with the regulator within 45 days, while interest would be levied at 12 percent per annum with effect from January 7, 2009.

All the ten accused on Thursday attended the court proceedings. However, media persons were not allowed inside the court hall.