Search: Look for:   Last 1 Month   Last 6 Months   All time

Reddy calls for a stern action against those liable for Satyam fraud

New Delhi, Tue, 20 Jan 2009 ANI

New Delhi, Jan 20 (ANI): Andhra Pradesh Chief Minister Y S Rajasekhar Reddy asserted that his Government will take strict action against all those responsible for the fraud in Satyam Computer Services Limited.

 

Reddy disclosed this to media persons here last evening.

 

"Satyam's erstwhile management has defrauded the shareholders of Satyam Limited, is a mind boggling thing. It has really discredited the State and the country," said Reddy.

 

He said that the State Government wants the erstwhile management should be brought to book and its criminal activity dealt with deterrently.

 

Government he said would take all necessary actions to protect the interests of the shareholders and employees.

 

Ramalinga Raju and his brother B Rama Raju, Satyam's co-founder and managing director, were arrested on charges of criminal breach of trust, criminal conspiracy, cheating, falsification of records and forgery, following a case filed by Andhra Pradesh Police.

 

Several securities fraud class action lawsuits have been filed in the United States on behalf of the investors who bought Satyam American Depository Receipts (ADRs) in last five years. (ANI)

 


LATEST IMAGES
Manohar Lal being presented with a memento
Manoj Tiwari BJP Relief meets the family members of late Ankit Sharma
Haryana CM Manohar Lal congratulate former Deputy PM Lal Krishna Advani on his 92nd birthday
King of Bhutan, the Bhutan Queen and Crown Prince meeting the PM Modi
PM Narendra Modi welcomes the King of Bhutan
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image
 
 

Comments:

lowell meyer

January 20, 2009 at 12:00 AM

it would seem to me the ones you go after is the cpa firm...you can not cook the books without they being part of it...how can you show 1 billion cash on hand and have less than $100,000 and the cpa firm signs off???? i have not heard anyone talk about going after them...i has a corp owner can not even get my cpa to sign off if we are of one dollar. SO WHERE IS THE ACCOUTABLITY and why are you and everyone looking into this not talking with the cpa firm who helped cook the books...


 

OTHER TOP STORIES


Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.