This Article is From Apr 12, 2009

Satyam case: Two auditors of Pricewaterhouse produced in court

Hyderabad: The CID in Andhra Pradesh have produced before a magistrate, two auditors of Pricewaterhouse Coopers identified as Gopalkrishna and T Srinivas in connection with the Satyam case.

The two accused have been sent to judicial custody till February 6. They have been charged with criminal breach of trust, criminal conspiracy, cheating and falsification of accounts.

The bail application is posted for hearing on January 27.

PWC were the external auditors of Satyam when news of the scam broke.

Pricewaterhouse had issued a statement on Saturday night saying they regret that two partners have been detained. PWC has said that the firm has and will continue to cooperate in all inquiries by the authorities.

Meanwhile, the Reserve Bank of India Deputy Governor Shyamala Gopinath has also said that the RBI is not concerned about the level of bank's exposures to Satyam and related entities. She said that banks can independently decide whether to lend further to Satyam.
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