Satyam Scam

The Sensex's journey to record high has not been a one-way street - the BSE benchmark has seen scams by Harshad Mehta, Ketan Parekh and Satyam scam and at the same time, been a witness to India's economic reforms.

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.

While agreeing with Sebi's finding that the individuals violated regulations, the tribunal had said the decision to uniformly restrain all the appellants from accessing the securities market for 14 years "without assigning any reasons is unjustified".

Former CBI joint director VV Lakshminarayana today announced that he would enter the field of politics in Andhra Pradesh soon.

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.

A 'sincere implementation' of laws including those dealing with insolvency and bankruptcy will ensure that there is no repetition of 2G and Satyam like scams in India, NCLT President Justice M M Kumar said on Saturday.

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.

Mr Raju is now prisoner number 4148 in the Cherlapally Central Prison here, where he has been lodged along with nine others since, April 9.

B Ramalinga Raju, the former chairman of Satyam Computer Services (SCSL) who had had the privilege of meeting former US President Bill Clinton, will now have to share a prison cell as a convict in India's biggest corporate fraud.

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.

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.

After six years the Satyam scam first came into right, a special court on Thursday convicted the firm's founder B Ramalinga Raju and nine other accused for criminal conspiracy.

During the trial, the CBI alleged that the scam caused a loss of Rs 14,000 crore to shareholders of Satyam.

A special court here trying the multi-crore accounting fraud in erstwhile Satyam Computer Services Limited (SCSL) today said it will pronounce its judgement in the CBI-probed case on April 9.

A special court is, today, slated to pronounce in Hyderabad the much-awaited judgement in the multi-crore accounting fraud in erstwhile Satyam Computer Services Limited (SCSL).

The Sensex's journey to record high has not been a one-way street - the BSE benchmark has seen scams by Harshad Mehta, Ketan Parekh and Satyam scam and at the same time, been a witness to India's economic reforms.

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.

While agreeing with Sebi's finding that the individuals violated regulations, the tribunal had said the decision to uniformly restrain all the appellants from accessing the securities market for 14 years "without assigning any reasons is unjustified".

Former CBI joint director VV Lakshminarayana today announced that he would enter the field of politics in Andhra Pradesh soon.

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.

A 'sincere implementation' of laws including those dealing with insolvency and bankruptcy will ensure that there is no repetition of 2G and Satyam like scams in India, NCLT President Justice M M Kumar said on Saturday.

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.

Mr Raju is now prisoner number 4148 in the Cherlapally Central Prison here, where he has been lodged along with nine others since, April 9.

B Ramalinga Raju, the former chairman of Satyam Computer Services (SCSL) who had had the privilege of meeting former US President Bill Clinton, will now have to share a prison cell as a convict in India's biggest corporate fraud.

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.

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.

After six years the Satyam scam first came into right, a special court on Thursday convicted the firm's founder B Ramalinga Raju and nine other accused for criminal conspiracy.

During the trial, the CBI alleged that the scam caused a loss of Rs 14,000 crore to shareholders of Satyam.

A special court here trying the multi-crore accounting fraud in erstwhile Satyam Computer Services Limited (SCSL) today said it will pronounce its judgement in the CBI-probed case on April 9.

A special court is, today, slated to pronounce in Hyderabad the much-awaited judgement in the multi-crore accounting fraud in erstwhile Satyam Computer Services Limited (SCSL).