A year has gone by since the fateful day when founder and former chairman of Satyam Computer Services (rebranded Mahindra Satyam), Ramalinga Raju, admitted to a multi-crore accounting fraud.
The CBI counsel argued that if Raju and Srinivas were permitted to operate laptops they could get access through wireless internet to anybody and destroy the evidence of prosecution.
The latest survey is based on a sampling of 565 executives.
Attorney general Andrew M Cuomo has also sued BofA's former CFO Joseph L Price. "Bank of America's management intentionally failed to disclose massive losses at Merrill so that shareholders would vote to approve the merger.
Hindustan Unilever Chairman Harish Manwani, MD & CEO Nitin Paranjpe and CFO R Sridhar speaks to Business Standard after the announcement of the financial results of the company in Mumbai on Tuesday.
Bullish on economic growth, majority of finance executives in India are planning to increase hiring in 2010, says a study.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
Tainted chairman of Satyam Computers B Ramalinga Raju and five others were chargesheeted by the Central Bureau of Investigation (CBI) on Thursday for allegedly filing false income tax returns resulting in a loss of Rs 126.57 crore (Rs 1.26 billion) to the company and shareholders.
Though GST could mean complications in the short run, it will bring in undeclared revenues and streamline taxation across the value chain, the benefits should be worth the pain.
A local court on Thursday dismissed the petition filed by Satyam Computers former MD Rama Raju and its ex-CFO Vadlamani Srinivas, seeking permission to use laptops in jail.
The XIV additional chief metropolitan magistrate extended the remand of Satyam founder Ramalinga Raju, his brother Rama Raju, ex-CFO Vadlamani Srinivas, former auditors of Price Waterhouse S Gopapalakrishnan and Talluri Srinivas, and three former employees of the firm till August 5. The accused, who have been lodged in the Chanchalguda jail, were produced before the magistrate.
Other income stood at about a quarter of PBIDT in the first 9 months of 2013-14
Pujara has so far scored 521 runs in seven innings with three hundreds at an impressive average of 74.42.
Indian IT services provider Wipro said it is keen to expand its footprint in France as the country offers huge potential for growth and has stepped up its investment in the region.
Former Satyam executives Rama Raju and Vadlamani Srinivas, who are in judicial custody in connection with multi-crore rupee accounting fraud, have filed a petition in a local court seeking permission to use laptops inside jail.
Ramalinga Raju, his brother and Satyam's former managing director Rama Raju, ex-CFO V Srinivas, former partners of PricewaterhouseCoopers S Gopalakrishnan and T Srinivas along with Satyam Computer Services former employees G Ramakrishna, D Venkatapathi Raju and Ch Srisailam -- who are lodged at Chanchalguda Jail in Hyderabad were brought to the court, after their remand ended on Wednesday.
The airline reported a net loss of Rs 321.50 crore (Rs 3.21 bn) in Q4.
The Sixth Additional Chief Metropolitan Magistrate on Wednesday allowed Securities and Exchange Board of India (SEBI) to quiz Satyam Computer's former CFO Vadlamani Srinivas and ex-Price Waterhouse partners S Gopalakrishan and Talluri Srinivas.
Such cold-shoulder by banks also indicates a credit freeze that is hard to overcome, unless the government comes out with credit guarantee schemes for loans given by banks. Since that is not happening, and there is no indication of that too, banks are not willing to listen to RBI prodding.
In an attempt to avoid Satyam-like frauds, a Sebi panel has suggested rotation of audit partners signing the accounts and giving more teeth to the company's audit committee.
The whistleblower, claiming to be an employee working in the finance department, said he was submitting a 'whistleblower complaint' unanimously as the matter stated was 'volatile' and that he feared retaliation on disclosing the identity.
A Vodafone Group insider with more than 25 years in the telco across geographies, he's like the eyes and ears of the multinational in India.
'Industry observers are certain the next attempt will succeed even if they have to browbeat someone into buying as the government has put its might behind it,' predicts Anjuli Bhargava.
Bharti Airtel will spend up to $800 million (about Rs 3,565 crore) this fiscal on setting up infrastructure network for its new acquisition Zain Africa.
IT services provider HCL Technologies on Wednesday said it will hire 5,000 people this year.
Here's how you must teach financial literacy to your children.
Software exporters TCS, Infosys and Wipro on Friday said they have little exposure in Dubai and do not see any adverse impact due to the emerging financial crisis there.
Infosys, for long, had been trying to strengthen its consulting practice as clients are now asking for more advisory-related work. Consulting and enterprise solution business together constitutes about 25 per cent Infosys' business today.
Besides the Raju brothers, the CBI would be quizzing Satyam's former CFO Vadlamani Srinivas and audit house Price Waterhouse's partners S Gopalakrishnan and Talluri Srinivas in connection with the Rs 7,800 crore (Rs 78-billion)accounting fraud at Satyam Computer.
The Infosys saga shows how efforts to remote-control a company by its powerful promoter, even with good intentions, might hurt the entity, says Asish K Bhattacharyya.
Wipro Technologies CFO Manish Dugar tells Ravi Menon that smaller deals are coming in use to gain mindshare and pave the way for the big-ticket contracts.
Revenue in the fourth quarter rose to $9.87 billion from $7.9 billion in the same period last year.
The Satyam Computer Services board is expected to induct former managing director of Tata Chemicals Homi R Khusrokhan on the company's board of directors as Executive Director and former chief financial officer of Murugappa group Partho S Datta as Director (Finance).
Satyam Computer Services founder B Ramalinga Raju, ex-CEO B Rama Raju and ex-CFO Vadlamani Srinivas in window-dressing the company's accounts, according to the remand case diary filed by the Economic Offences Wing of the Andhra Pradesh Crime Investigation Department.
The 6th additional chief metropolitan magistrate rejected Sebi's plea for taking the Raju brothers into custody for a day and returned as 'not maintainable' the petition filed by SFIO seeking six days custody of Ramalinga and Satyam's former CFO Vadlamani Srinivas. The three were, meanwhile, sent to judicial remand till January 31.
As many as 120 questions have been put together by the experts and the CID team, which is trying ascertain if Satyam's founder Ramalinga Raju siphoned off the company's money through benami transactions. Sources in the CID said the questions were designed based on documents seized during raids at Raju's home and office on January 10 and 11. Raju, on January 7, disclosed that he had for years inflated Satyam's profits and created fictitious assets where none existed.
The remand of Satyam founder B Ramalinga Raju and seven others was extended by 14 days by a local court in Hyderabad on Wednesday.
Disgraced Satyam founder B Ramalinga Raju, his brother Rama Raju, and IT firm's former CFO Vadlamani Srinivas moved their bail applications in the IV Additional Metropolitan Sessions judge in the Nampally criminal court complex. Their bail pleas were rejected by the designated court for CBI (XIV Additional Chief Metropolitan Magistrate).
The global credit crisis has affected Korean and Chinese shipyards, which are seeing order cancellation in dry bulk and wet bulk carriers. Hindustan Shipyard, which handles both government and private clients, has not not seen any order cancellations, a top official of the company said.
The Central Bureau of Investigation on Thursday obtained specimen signatures of former Satyam Computer chairman B Ramalinga Raju and four others accused in connection with the multi-crore rupee fraud in the IT company.
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