Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: TDS :: VAT RATES :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: articles on VAT and GST in India :: cpt :: form 3cd
 
 
News Headlines »
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns

Ramalinga Raju, Former Satyam chief declared 'pauper' in US court
January, 28th 2010

Ramalinga Raju, former chairman of Satyam Computers, who last year confessed to have inflated his company's assets by over $ 1 billion, was declared a pauper by a court here exempting him from paying court costs.

New York judge Barabara S Jones approved 'pauper' status for Raju, his brother Rama Raju, Satyam's former chief executive officer, and Srinivas Vadlamani, the company's former head of finance.

In October 2009, the defendants filed an "in forma pauperis" and for the appointment for a pro bono counsel.

According to court documents, the accused stated they are "unable to engage an attorney in the US to defend (themselves) in the class action litigation and to pay any court fees or to meet any financial obligations which might be imposed by this court".

"The court finds that defendants have adequately demonstrated that they are unable to pay costs as described in the federal law," US District Judge Jones said.

The judge however denied the request for a pro bono counsel as the "defendants are incarcerated in a foreign country and it would be unusually difficult for the appointed counsel to meet and otherwise competently represent Defendants under the circumstances".

On 7 January 2009, Raju, 55, admitted that Satyam's accounts had been falsified by over $ 1 billion, in what became India's largest corporate scandal.

In November, the CBI said that fraud was 40 per cent larger than originally estimated. The former CEO of Satyam is being held in India.

"It was like riding a tiger, not knowing how to get off without being eaten," he said, after the scandal broke. The IT company was taken over by Tech Mahindra.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

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