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Press Trust of India, Sunday November 15, 2009, New Delhi

The Serious Fraud Investigation Office will shortly begin prosecution of Satyam Computer founder B Ramalinga Raju and others who perpetrated an accounting scam, which is being probed by multiple agencies.

Tech Mahindra wins bid for Satyam

NDTV Correspondent, Monday April 13, 2009, New Delhi, India

Tech Mahindra, an M&M-promoted company, has won the bid for Satyam Computer after bidding at Rs 58 per share. Tech Mahindra would pay Rs1,757 crore for a 31 per cent stake in Satyam. The sources added that Tech Mahindra has secured complete funding to acquire a 51 per cent stake in Satyam.

PwC faces heat as staff asked to disperse

Bureau report, Tuesday January 20, 2009, Hyderabad

The Satyam scam is undoubtedly having far reaching ramifications not just on how corporate frauds are perpetrated but also the conduct of the auditors. PricewaterhouseCoopers is facing the heat for having neither prevented nor detected the frauds. So where exactly was the lacunae?

Satyam land allotment put on hold

NDTV Correspondent, Thursday January 22, 2009, Hyderabad

The Andhra Pradesh government has reportedly put on hold the allotment of 50 acres land given to Satyam Computers. This land was reportedly meant for setting up an information technology Special Economic Zone.

No plans to sell Satyam: Government

Bureau report, Wednesday January 21, 2009, Hyderabad

The government has said that it has no plans to sell Satyam. Earlier, speculations were rife over ongoing efforts to sell the company either as a whole or in bits and pieces.

SEBI board meet

Press Trust Of India, Thursday January 22, 2009, Mumbai

Capital market regulator Securities and Exchange Board of India (SEBI) will hold its Board meeting on Wednesday, an official said. It is, however, understood that the Board meet, the first after the Satyam scam, would discuss the issue in detail. The market regulator is understood to be mulling measures to prevent the recurrence of such scams in the future.

Satyam board to meet today

NDTV Correspondent, Friday January 23, 2009, Hyderabad

The six-member Board of Satyam will begin a crucial two-day meet in Hyderabad on Thursday in an effort to steer the company away from the current crisis following the Rs 7,800 crore financial fraud. The meeting is the third since the disclosure of the fraud by its head Ramalinga Raju. The Board has the important task of appointing Chief Executive Officer and Chief Financial Officer, the two key posts being looked at for reviving the company.

Will SEBI quiz Raju? Court to decide today

NDTV Correspondent, Thursday January 22, 2009, Hyderabad

The police custody of Satyam ex-chief Ramalinga Raju ends on Thursday. Besides Raju's bail plea, three other petitions will also come up in Nampally court in Hyderabad. CID extension for police custody, SEBI petition to be able to question Raju and Raju's petition for special status inside prison will also be taken up by the court.

10,000 salary accounts faked at Satyam

NDTV Correspondent, Thursday January 22, 2009, Hyderabad

Ramalinga Raju will spend at least another night in jail. The CID has got another day's custody of Satyam's former boss. But the real extent of the Satyam rot is only just coming to light. The puclic prosecutor on Thursday told the court that Satyam may have faked at least 10,000 salary accounts. The company actually employs 40,000 people, and not 53,000. Ten thousand employees were non-existent and 3,000 belong to attrition category.

Satyam fiasco like 26/11 attack: LIC

Press Trust Of India, Thursday January 22, 2009, New Delhi

The Satyam scam was so sudden and severe that even the best brains could not have stopped it, just like the terror attacks in Mumbai, the IT firm's major shareholder LIC said on Thursday. ",It can be equated with terrorists sneaking into Mumbai and killing hundreds of persons and nobody with the best of preparations could have prevented it,", LIC Chairman T S Vijayan said.

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