Head of investor relations T A N Murti allegedly indulged in insider trading during the sacm.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
Setting aside the ban on PwC, which is one of the Big Four global accounting firms, SAT said only the national auditors watchdog ICAI (Institute of Chartered Accountants of India) can take any action against its members and fraud cannot be proved on the basis of negligence in auditing.
A senior finance ministry official said, on the condition of anonymity, that the top echelons of the government tried to convince the Central Board of Direct Taxes (CBDT) for a sympathetic consideration of the company's plea in the case pertaining to the income of the erstwhile Satyam Computer Services Ltd (SCSL) from abroad.
Things went from bad to worse since December 2008 for people who purchased bungalows, villas and apartments at Maytas Hill County, promoted by Maytas Properties Limited (MPL) -- the company run by B Rama Raju (Jr), the younger son of Satyam Computer Services founder and former chairman B Ramalinga Raju.
The Andhra Legislative Assembly witnessed noisy scenes and constant exchange of words between the ruling Congress and the TDP members through the 90-minute reply by the chief minister.
GE and Malaysia Airlines have said they are continuing their existing contracts with Satyam. In the newly constituted board's first meeting, Deepak Parekh had said two of Satyam's global clients have vouched for the firm but declined to give further details. Meanwhile, over half a dozen of Satyam Computer's rivals have started exploring ways to take over the business from its various clients, a global technology consultancy firm has said.
ANZ Bank has about 100 Satyam contractors who support IT projects. They are mainly based at the bank's Indian subsidiary, which employs about 2,000 people, it said. Last week, the bank told employees that it would develop a contingency plan although its relationship with Satyam was 'modest'.
Dow Jones Indexes, a leading global index provider, has removed scandal-hit Satyam Computer from its 'Dow Jones India Titans 30 Index' and replaced it by Axis Bank.
The hearing of the forgery case filed by British mobile solution firm Upaid against Satyam Computer Services is not scheduled for hearing during this week.
According to sources, engineering major L&T had also put in its bid to acquire control of the Hyderabad-based company, while Cognizant has not put in a bid.
Competitive bids to select the new owner for Satyam Computer Services, once India's fourth largest software company, will soon be announced.
Even the big and eager will find it quite a mouthful.
Public-sector insurer Life Insurance Corp (LIC), which holds 4.34 per cent in the troubled IT firm, Satyam Computer Services, on Thursday said it is assessing the situation and will take a decision on its holding accordingly.
Satyam Computer Services on Friday announced a consolidated net profit of Rs 580.85 crore (Rs 5.81 billion) for the second quarter ended September 30, a growth of 42 per cent over the corresponding period a year ago.
Satyam Computer Services has signed a memorandum of understanding with Maharashtra Airport Development Company to acquire 100 acres in the Nagpur special economic zone.
The Tamil Nadu government is expected to allot 50 acres of land on the Old Mahabalipuram Road, the IT corridor of Chennai, to Satyam Computer Services Ltd.
According to a department notification, Tech Mahindra has approached the Board of Approvals under the Department of Commerce for transferring rights of three SEZs (one in Tamil Nadu and two in Andhra Pradesh) and the proposal will come up for a discussion before the BoA on August 30.
Satyam Computer Services Ltd allotted 600 equity shares under a stock option plan.
The big thing was inflating the revenue of the company through fake invoices.
Raju and nine others accused, including his two brothers, are currently on bail in a case related to fudging of Satyam accounts in 2009.
Satyam Computer Services Ltd said Giga Information Group named it 'Top choice for SAP support' among offshore service providers.
Mahindra Satyam merged with Tech Mahindra, creating a new entity with revenues of $2.7 billion.
Satyam Computer Services Ltd and Ansys Inc formed a strategic alliance that will help customers accelerate product innovation, time-to-market and quality.
Class action, whistleblower protection and exit option likely to bring back investor confidence.
SFIO, the investigation arm of the Corporate Affairs Ministry, has been ordered to probe alleged fraud in 83 companies in the last four years, Parliament was informed on Thursday.
The Andhra Pradesh High Court on Tuesday stayed a provisional order of Enforcement Directorate attaching Rs 822 crore (Rs 8.22 billion) deposit belonging to Mahindra Satyam in a money laundering case involving former Satyam Chairman B Ramalinga Raju and others.
The Enforcement Directorate on October 18 issued provisional attachment order of the company's fixed deposits worth Rs 822 crore (Rs 8.22 billion) in a money laundering case related to the previous management.
In its glory days, Satyam was the lifeline of Hyderabad.
Judge ruled that ther lawsuits failed to allege that the ex-directors recklessly failed to discover the fraud.
Satyam Computer Services Ltd will set up a business continuity center in Singapore, its headquarters for Asia-Pacific Region. This would be the first such center outside India.
Tech Mahindra had acquired Satyam as part of a government sponsored bidding process in April 2009
Bulk of fast-track proceedings completed, with defence cooperating in avoiding delays; court examination of accused & rival arguments remain
Pays $68 million to settle with the claimants.
Satyam Computer Services on Monday said it has filed a suit in a Hyderabad court against its former Board of Directors, certain employees and the company's audit firm Price Waterhouse seeking damages for perpetrating fraud.
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