Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: articles on VAT and GST in India :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: due date for vat payment :: VAT Audit :: ACCOUNTING STANDARD :: empanelment :: TDS :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd
 
 
General »
 The most thrilling idea before every Budget: No income tax
 Finance Ministry likely to tweak Minimum Alternate Tax norms to boost industry
 Income tax department warns people to keep away from benami transactions
 New helpline for income tax e-filing
 The Central Government notifies the Companies (Amendment) Act, 2017
 GST Returns: Government Relaxes Rectification Norms
 Will govt bring change in income tax slab? here's the present structure
 No income tax exemption to cooperative banks
 Bitcoin investors may have to pay capital gains tax
 What industry expected when Modi government implemented GST
  The Finance Resolution And Deposit Insurance Bill, 2017

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.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions