Satyam Fraud case to get Verdict date today

The Multi Crore Accounting Fraud that surfaced in Satyam Computers five and half years ago is going to get verdicted today. The special court of Additional Chief Metropolitan Magistrate (ACMM) in Hyderabad will fix a date for the final verdict in the case today. 216 witnesses and marked 3,038 documents were examined during the course of the hearing. Satyam Computers founder and former chairman B Ramalinga Raju who is one of the first few Telugu origin CEOs of Multi National Software firms, is the prime accused of the case.

On January 7, 2009, Ramalinga Raju confessed to manipulating his company’s account books and inflating profits over many years to the tune of several crores of rupees. Finally Raju was sent behind the bars with offences ranging from cheating, criminal conspiracy, forgery, breach of trust under relevant sections of IPC by way of inflating invoices and incomes, account falsification, faking fixed deposits, besides allegedly falsifying returns through violation of various I-T laws. Satyam Computers was later merged with Tech Mahindra.