A special court in Hyderabad is slated to pronounce the much-awaited judgement in the multi-crore accounting fraud in Satyam Computes.The special court that was constituted in year 2010 to handle Satyam Computers scam.As per reports the court is likely to pronounce its final verdict today.
The Satyam Computer Services scandal was a corporate scandal that occurredin 2009 where chairman Ramalinga Raju confessed that the company's accounts had been falsified.Touted as the country's biggest accounting fraud, the scam had come to light on January 7, 2009, after B Ramalinga Raju confessed to manipulating his company's account books.
Ramalinga Raju resigned on 7 January 2009 and confessed that he had manipulated the accounts by US$1.47-Billion.In February 2009, CBI took over the investigation and filed three charge sheets (on April 7, 2009, November 24, 2009 and January 7, 2010), which were later clubbed into one.
Ramalinga Raju, his two brothers Ramaraju, Surayana Narayana Raju, former CFO of Satyam Computers Srinivas Vadlamani, Company auditors S Gopala Krishnan, T Srinivas, former employees of the Company G Rama Krishna, CH Srisailam, VS Prabhakar Gupta and D Venkatapathi Raju are the prime accused in this multi millions scam.
The special court has gone through 3,187 documents and taken evidence from 226 people in connection with this case. So all are waiting to hear the final verdict from the court.Lets see whether court will deliver final judgement today or postpone it to further date.