CA, CS, ICWA related News and Articles

The two auditors of Satyam Computer Services, appointed by PWC to audit the accounts of the company, were not partners of the audit firm at that time, people close to the investigation told. Srinivas Talluri and S Gopalakrishnan, the two partners who have been signing the Satyam balance sheets for the past several years, were [...] Full Article

Did Satyam Computer Services’ promoter B Ramalinga Raju make a calculated move in owning up to a Rs 7,800 crore fraud to lessen the degree of punishment? With media reports speculating that Raju may have had benami accounts, land holdings and so on, senior government sources told Outlook Business that the suspicion from day one [...] Full Article

Institute of Chartered Accountants of India (ICAI) has formed a six- member high level team to go into the Satyam Computer Services fiasco that has drawn international attention, informed ICAI central committee member K Raghu. He was speaking after inaugurating the investor awareness programme organized here under the joint aegis of the ICAI Southern India [...] Full Article

THE Ministry of Corporate Affairs has ordered an inspection of the accounts of Satyam Computer Services Ltd. under Section 209A of the Companies Act that brings in its ambit the subsidiaries too. The Ministry has also ordered serious frauds investigation under Section 235 of the Act. The Government may invoke more provisions of the Act [...] Full Article

November: Ram Gopal Verma was sighted inside Taj Hotel, Mumbai. January: Ram Gopal Verma was sighted in Satyam Computers Hyderabad. Raju Raju? Yes papa! Eating money? No papa! Telling lies? No papa? Open your balance sheets? Ha ha ha All Raju named Chai-wallahs around BSE will be banned soon. Satyam Shitam Sundaram. Master ji: Raju [...] Full Article

Engineering major Larsen & Toubro (L&T) continues to be interested in acquiring Satyam Computer Services . L&T’s chairman AM Naik told ET that L&T, which is one of the largest shareholders of Satyam, is not interested in being a spectator in the ongoing saga. Mr Naik also expressed his opposition to any IT company taking [...] Full Article

As part of its investigation into the Satyam Computer case, the Institute of Chartered Accountants of India (ICAI) is likely to question Ernst & Young (E&Y) on the valuation exercise it undertook  on the two Maytas companies. An ICAI source told that the institute would also look into the process used by E&Y to confer [...] Full Article

Though happy with the fact that troubled IT major Satyam Computer Services had paid income tax on unreal profits — as claimed by its chairman B Ramalinga Raju — the income-tax department is planning to re-examine the exemptions the company had claimed under the income tax regulations. According to a preliminary report sent by the [...] Full Article