Hyderabad, Jun 23 UNI | 1 month ago

Nearly five and a half years after the country's biggest multi-crore accounting fraud at Satyam Computer Services Limited was unearthed, the Special Court here will fix the date of verdict in the case on June 26.


The final arguments in the multi-crore case had already concluded and the date for pronouncement of judgement in the case will be announced on June 26, Additional Chief Metropolitan Magistrate (ACMM) BVLN Chakravarti said here.

The court examined 216 witnesses and marked 3,038 documents during the course of hearing in the case, in which erstwhile Satyam Computers Founder and former Chairman B Ramalinga Raju, cited as the prime accused and nine other accused, were present in the court.

Satyam Computer Services was born in Hyderabad on June 24,1987.

Ramalinga, his brother Rama Raju, Chief Financial Officer Vadlamani Srinivas and seven others are facing charges of criminal conspiracy, criminal breach of trust, cheating and forgery under various Sections of the Indian Penal Code.

The company had later merged into Tech Mahindra, which had acquired the company as part of a government-sponsored bidding process in April, 2009.

Ramalinga and his brother were arrested on January 9, 2009.

At present, all the accused are on bail, though the Enforcement Directorate has also filed a charge sheet against them under the Money Laundering Act.

CBI filed three charge sheets, in which two charge sheets deal with account falsification and the third one dealt with Income Tax violations.

Later, all the charge sheets were clubbed into a single one.

(Posted on 23-06-2014)