Satyam Case

SAT said, only the auditors watchdog ICAI can take any action against its members and fraud cannot be proved on the basis of negligence in auditing.

The Hyderabad High Court today set aside an Enforcement Directorate order provisionally attaching Rs 822 crore worth of fixed deposits belonging to Satyam Computer Services Ltd, which was acquired by Tech Mahindra

Instances compiled by an association of Tamil Nadu journalists suggest multiple cases of 'blackouts' simply for reporting news critical of the government. Among the cases cited are: in February this year, Satyam TV was blacked out for a day on Arasu Cable for reporting on the protests in Tuticorin against a plant by mining giant Vedanta.

Price Waterhouse had appealed to SAT to lift the SEBI ban, but the Tribunal only agreed to give it a reprieve to permit it to complete audits it had already taken on for the 2018 calendar year.

The market regulator's order comes nearly nine years after the scam at Satyam Computer Services came to light and after two failed attempts by auditor major Price Waterhouse to settle the case through consent mechanism.

The latest penalties for insider trading follows an earlier disgorgement order passed by Sebi in July last year, wherein the regulator had barred Raju and four others from the markets for 14 years and also asked them to return Rs 1,849 crore worth of unlawful gains with interest.

In a strong criticism of the "poorly-drafted" Companies Act, ICICI Bank's newly appointed chairman, M K Sharma, has said that tightening of norms has made it a "curse" to be a promoter and everyone is being made to pay because of a few cases like Satyam and Sahara.

The Metropolitan Sessions Court, on May 11, suspended seven-year rigorous imprisonment awarded to Raju and others in the Satyam case, known as one of the biggest corporate frauds in India.

A metropolitan sessions judge on Monday suspended seven-year rigorous imprisonment sentence awarded to Raju and others in the Satyam case, known as one of the biggest corporate frauds in India.

A local court on Friday deferred to May 11 its order on an application filed by Satyam Computers founder B Ramalinga Raju and nine others, seeking suspension of their sentence and fines imposed on them in the multi-crore rupee accounting fraud.

Following the order, Mr Raju and others are likely to move the high court

Satyam, which in Sanskrit means "truth", was sold the same year to the smaller rival Tech Mahindra Ltd in an auction.

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.

Noted lawyer Harish Salve said the case has taken long as "we do not have the infrastructure in our courts to deal with these kind of cases".

Satyam founder Ramalinga Raju was sentenced to seven years in jail hours after he was found guilty by a Hyderabad court of criminal cheating and conspiracy in what is described as India's largest-ever corporate scandal. He has also been fined five crores.

SAT said, only the auditors watchdog ICAI can take any action against its members and fraud cannot be proved on the basis of negligence in auditing.

The Hyderabad High Court today set aside an Enforcement Directorate order provisionally attaching Rs 822 crore worth of fixed deposits belonging to Satyam Computer Services Ltd, which was acquired by Tech Mahindra

Instances compiled by an association of Tamil Nadu journalists suggest multiple cases of 'blackouts' simply for reporting news critical of the government. Among the cases cited are: in February this year, Satyam TV was blacked out for a day on Arasu Cable for reporting on the protests in Tuticorin against a plant by mining giant Vedanta.

Price Waterhouse had appealed to SAT to lift the SEBI ban, but the Tribunal only agreed to give it a reprieve to permit it to complete audits it had already taken on for the 2018 calendar year.

The market regulator's order comes nearly nine years after the scam at Satyam Computer Services came to light and after two failed attempts by auditor major Price Waterhouse to settle the case through consent mechanism.

The latest penalties for insider trading follows an earlier disgorgement order passed by Sebi in July last year, wherein the regulator had barred Raju and four others from the markets for 14 years and also asked them to return Rs 1,849 crore worth of unlawful gains with interest.

In a strong criticism of the "poorly-drafted" Companies Act, ICICI Bank's newly appointed chairman, M K Sharma, has said that tightening of norms has made it a "curse" to be a promoter and everyone is being made to pay because of a few cases like Satyam and Sahara.

The Metropolitan Sessions Court, on May 11, suspended seven-year rigorous imprisonment awarded to Raju and others in the Satyam case, known as one of the biggest corporate frauds in India.

A metropolitan sessions judge on Monday suspended seven-year rigorous imprisonment sentence awarded to Raju and others in the Satyam case, known as one of the biggest corporate frauds in India.

A local court on Friday deferred to May 11 its order on an application filed by Satyam Computers founder B Ramalinga Raju and nine others, seeking suspension of their sentence and fines imposed on them in the multi-crore rupee accounting fraud.

Following the order, Mr Raju and others are likely to move the high court

Satyam, which in Sanskrit means "truth", was sold the same year to the smaller rival Tech Mahindra Ltd in an auction.

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.

Noted lawyer Harish Salve said the case has taken long as "we do not have the infrastructure in our courts to deal with these kind of cases".

Satyam founder Ramalinga Raju was sentenced to seven years in jail hours after he was found guilty by a Hyderabad court of criminal cheating and conspiracy in what is described as India's largest-ever corporate scandal. He has also been fined five crores.