Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 Tax planning for 2025: How to maximise your savings before March 31 deadline
 New income tax bill reaches Parliament: Finance Minister Nirmala Sitharaman tables I-T Bill 2025 in Lok Sabha
 5 major changes in the last 6 months every taxpayer should know!
 Good news for taxpayers: ITR forms updated to allow 87A tax rebate claims, but there's a catch

SFIO submits Satyam fraud report to govt, say sources
April, 14th 2009

The Serious Fraud Investigation Office is believed to have completed the investigation of the Satyam-fraud case and submitted its report to the government.

"The deadline was April 13. The report has been prepared and submitted today," sources said but no official confirmation could be obtained from the ministry of corporate affairs.

The sources said the SFIO has not been able to track the chain of diversion of funds in the Satyam case, but have found some violation of the provisions of the Companies Act by its disgraced founder chairman B Ramalinga Raju.

The report, which runs into over 3,000 pages, mainly deals with violations of sections 211, 205, 309 and 628 of the Companies Act, sources added.

These sections pertain to provisions relating to payment of dividend, presentation of true and fair picture of the affairs of the company, remuneration of directors and presenting false statements.

After the confessions made by Raju regarding the multi-crore fraud on January 7 at Satyam Computer Services, the government had ordered investigation into the scandal by the SFIO on January 13.
The SFIO is an arm of the MCA that probes cases of economic offences of grave nature.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2025 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting