Court allows I-T dept. to interrogate Ramalinga Raju on Feb. 21
February, 19th 2009
The income tax department would question the tainted founder of beleaguered Satyam Computer Services, B Ramalinga Raju, main accused involved in the largest ever corporate audit fraud in the history of India.
The department, under section 131 of Income Tax Act, would interrogate Mr. Raju on February 21 as it has already received court's approval to examine and record the statement of Raju in order to access the income of firm, believed to be much inflated than original by manipulating accounts.
Earlier, the market regulator SEBI also questioned Raju and his brother in connection with auditing fraud, for three days in the Chanchalguda Jail.
Meanwhile, audit firm KPMG and Deloitte, examining accounts of Satyam, may take more time for the restatement of accounts due to complexities associated with account books. KPMG chief operating officer in India, Richard Rekhy said, "It won't take less than six months in my view... I cannot give an exact date. It is not a one-year account; you have to go back three, four years ..."
Company's new board and employees are working hard to announce results for fourth quarter in time. However, the officials remained tight lipped about results of results of third quarter.