Satyam multi-crore accounting fraud: HDFC official records statement before SC
December, 02nd 2010
A bank official of HDFC here today told a Special Court, trying the accused in the multi-crore accounting fraud in Satyam Computers, that 114 companies floated by the promoters of Satyam Computer Service Limited (SCSL) including former company chairman B Ramalinga Raju and his family members were having accounts with their bank.
In his deposition before the XXI Additional Chief Metropolitan Magistrate (ACMM) Court here, C H Srinivas, branch manager of HDFC (Begumpet branch here) gave details on the banking transactions carried out by SCSL which maintained five accounts with their bank.
During his examination, Mr. Srinivas told the court that CBI asked information regarding 327 companies if they are holding account in the bank. We verified the records and found 114 private limited companies out of the 327 companies asked by CBI are having accounts in our bank. We have also given the statement of accounts of these companies.
The banker gave details pertaining to the payment and receipts (during the period between 1999 and 2008) to the tune of several crores made to SCSL and from SCSL to various companies and individuals besides on the aspect of shares and dividends.
Over 184 documents were likely to be marked during his examination, which will continue tomorrow also.
The CBI, in its charge sheet, had earlier claimed that a total of 327 companies were incorporated from 1999 to 2008 from time to time by Ramalinga Raju, his brother B Rama Raju along with their family members.
Out of these, 83 companies belong to Ramalinga Raju, his wife B Nandini Raju and sons B Teja Raju and B Rama Raju (Junior), 78 companies to B Suryanarayana Raju, his wife B Jhansi Rani and their children B Purnima and B Satayanarayana Raju, 86 companies to B Rama Raju, his wife B Radha and their children Deepti and Rahul Raju. The remaining 80 companies belonged to other members of the family and trusted employees, the CBI said.
The CBI alleged that an exclusive company, SRSR Advisory Services Private Limited, with B Suryanarayana Raju as the director, was floated for the purpose of doing the accounting and advisory services with regard to these companies.
Meanwhile, CBI sources said that so far 26 bankers were examined by the court and six more witnesses (bank officials) were likely to be presented. Once the examination process of bankers was over the Court will begin examination of Satyam employees who have been cited as CBI witnesses.