satyam

Wake up call for Chartered Accountants

CA, CS, CMA - Satyam’s Auditors Arrested – Who’s Next? Participate In Signature Campaign Now Based on confessions of fraud made by the promoters of Satyam and its CFO, the Andhra Pradesh Police arrested the two members of the Institute of Chartered Accountants of India, who signed the Audit Report and put them behind bars along with commo...

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The Satyam scandal continues to reverberate, with a host of competing

CA, CS, CMA - The Satyam scandal continues to reverberate, with a host of competing companies aiming to pick up some U.S. business and some big firms facing questions about why they did business with the Indian outsourcer....

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Can Satyam claim a refund of taxes on onerstated income?

CA, CS, CMA - Today, the fraud at Satyam Computer Services is one of the hottest topics around. There are so many questions relating to various taxation issues that are constantly cropping up. One of the common questions going through everyone's mind is: Can Satyam claim a refund of taxes already paid on its inflated income for all the earlier years?...

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What Was Behind Raju's Confession?

CA, CS, CMA - 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 [&he...

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Satyamgate – Investigators need to look deeper into associate Cos and subsidiaries

CA, CS, CMA - 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....

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TDP alleges Andhra CM's son got money from Satyam

CA, CS, CMA - The gloves are off in the fight between the Union Government and Opposition on who is helping scam-tainted Satyam Computer Services Ltd. The Opposition charges the Congress-led United Progressive Alliance (UPA) Government of being hand-in-gloves with the Andhra Pradesh government led by YS Rajashekhar Reddy....

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Price Waterhouse heads for a disgraceful exit at SATYAM

CA, CS, CMA - Tainted Satyam auditor Price Waterhouse heads for a disgraceful exit as the new board of the IT Company is believed to have initiated steps to remove the auditor midway. Sources said the new board will approach the central government with this proposal and then take it up with the company’s shareholders....

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Satyam bidders will not get to see Accounts before bidding

CA, CS, CMA - The suitors seeking to take over the scam-hit Satyam Computers will not be able to go through the restated financial statement or the  third quarter results prior to the bidding, a senior company official said....

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IT officials served notice to Raju for evading taxes

CA, CS, CMA - The cup of woes for B Ramalinga Raju seemed to be full as income tax officials drove down to the Chanchalguda jail on Thursday and served a notice on him for evading taxes. According to sources, the former Satyam chief refused to accept the summons without consulting his lawyer first. However, he relented after the […]...

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Inside the secret world of auditing : Business Today

CA, CS, CMA - PwC’s unqualified opinions of Satyam’s financial statements were materially false and misleading… as an accounting expert which consented to the use of its unqualified audit opinions, PwC is liable for the material misrepresentations or omissions… Excerpt from a Class Action Complaint against Satyam, Ramalinga Raju, Rama Raju, Sri...

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Recent Posts in "satyam"

TDP alleges Andhra CM's son got money from Satyam

The gloves are off in the fight between the Union Government and Opposition on who is helping scam-tainted Satyam Computer Services Ltd. The Opposition charges the Congress-led United Progressive Alliance (UPA) Government of being hand-in-gloves with the Andhra Pradesh government led by YS Rajashekhar Reddy....

Read More
Posted Under: Finance |

Price Waterhouse heads for a disgraceful exit at SATYAM

Tainted Satyam auditor Price Waterhouse heads for a disgraceful exit as the new board of the IT Company is believed to have initiated steps to remove the auditor midway. Sources said the new board will approach the central government with this proposal and then take it up with the company’s shareholders....

Read More
Posted Under: Finance |

Satyam bidders will not get to see Accounts before bidding

The suitors seeking to take over the scam-hit Satyam Computers will not be able to go through the restated financial statement or the  third quarter results prior to the bidding, a senior company official said....

Read More
Posted Under: Finance |

IT officials served notice to Raju for evading taxes

The cup of woes for B Ramalinga Raju seemed to be full as income tax officials drove down to the Chanchalguda jail on Thursday and served a notice on him for evading taxes. According to sources, the former Satyam chief refused to accept the summons without consulting his lawyer first. However, he relented after the […]...

Read More
Posted Under: Finance |

Inside the secret world of auditing : Business Today

PwC’s unqualified opinions of Satyam’s financial statements were materially false and misleading… as an accounting expert which consented to the use of its unqualified audit opinions, PwC is liable for the material misrepresentations or omissions… Excerpt from a Class Action Complaint against Satyam, Ramalinga Raju, Rama Raju, Sri...

Read More
Posted Under: Finance |

ICAI Comittee submits its interim report on Satyam scam

The high power committee of the Institute of Chartered Accountants of India (ICAI) on Wednesday submitted its interim report on the financial scam of Satyam Computer Services. ICAI said the report is interim in nature since restatement of accounts of Satyam is in progress and is expected to take another two months to complete. ICAI [&hell...

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Posted Under: Finance |

Satyam account cleaning to take six months: ET

MUMBAI: The “cleaning up” or restating of scam-tainted Satyam’s accounts is expected to take at least six months as the newly-appointed auditing firms will have to scrutinise the company’s fudged numbers back to 2002, a top source said. “Efforts to restate the accounts are progressing rapidly. The Board expects this task to take...

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Posted Under: Finance |

Central agencies want to question Raju

All the Central investigating agencies have now swung into action by petitioning a city court to grant them permission to question in jail the accused in the Satyam fraud. The Income-Tax Department on Monday petitioned the court to allow it to interrogate the former chairman of Satyam Computer Services, B. Ramalinga Raju, alone. The Secur...

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Posted Under: Finance |

Rajus pledged entire 15.14% stake in Maytas to lenders

Maytas Infra on Monday said three of its promoters, including Ramalinga Raju and Rama Raju, have pledged their entire holding of 15.14 per  cent in the company to lenders. Ramalinga Raju, the former Chairman of fraud-hit Satyam Computer, has pledged his entire holding of 48.54 lakh shares representing 8.25 per cent of the paid up [&helli...

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Posted Under: Finance |

Satyam fraud will be investigated by Large I-T team

The Income-Tax department has mobilised a large number of staff members from its local offices for a comprehensive investigation into the fraud in Satyam Computers. A top official said the staff will join duty in a day or two following the IT Chief Commissioner’ s orders earlier this week. He said the investigations would not [&hell...

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Posted Under: Finance |
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