Rediff India Abroad
 Rediff India Abroad Home  |  All the sections


The Web

India Abroad

Sign up today!

Get news updates:

Home > India > Business > PTI > Report

   Discuss   |      Email   |      Print   |   Get latest news on your desktop

Bail pleas of PwC executives dismissed

February 16, 2009 19:33 IST

Related Articles
The Satyam fiasco: Complete coverage

A local court in Hyderabad dismissed the bail petitions of S Gopalakrishnan and Talluri Srinivas, former partners of auditing firm Price Waterhouse, who are in judicial remand in the Rs 7,800-crore (Rs 78 billion) Satyam [Get Quote] fraud case.

The Sixth Additional Chief Metropolitan Magistrate dismissed the bail pleas on the ground that the investigation is in progress.

Meanwhile, the judge reserved his orders on a petition filed by Income Tax (I-T) department seeking three days time to examine and record the statement of Satyam former chairman B Ramalinga Raju.

The counsel of I-T department Ramakrishna Reddy informed the court that as Raju himself confessed having manipulated his company's accounts, the department wanted to examine him to arrive at a correct figure of the tax for 2007-8.

Opposing the plea, the defence lawyer of Raju contended that his client was grilled and interrogated by SEBI, SFIO and CID besides entire documents pertaining to accounts of the firm were seized. However, he said that let the I-T department strict to one day instead of three days.

"My client does not want to give an impression that he is opposing the probe or not cooperating with investigating agencies," he said.

© Copyright 2008 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

   Email   |      Print   |   Get latest news on your desktop