Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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: due date for vat payment :: cpt :: ACCOUNTING STANDARD :: VAT RATES :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: form 3cd :: ACCOUNTING STANDARDS
« From the Courts »
 Commissioner Of Income Tax, Delhi Vs. M/s. Maruti Udyog Ltd
 Pr. Commissioner Of Income Tax - 6 Vs. M/s. Mohan Export India Private Limited
 Principal Commissioner Of Income Tax-7 Vs. Oriental International Co. Pvt. Ltd.
 Pr. Commissioner Of Income Tax-2 Vs. British Motor Car Co.(1934) Ltd
  Vidyadayani Shiksha Samiti vs. CIT (ITAT Delhi)
 Halcrow Consulting India Pvt. Ltd vs. DCIT (ITAT Delhi)
 ACIT vs. TRN Energy Pvt. Ltd (ITAT Delhi)
 Aditya Chemicals Ltd vs. ITO (ITAT Delhi)
 Gayatri Aggarwal Vs. Income Tax Commissioner & Ors.
 Paradigm Geophysical Pvt. Ltd. Vs. Commissioner Of Income Tax (International Taxation)-3, New Delhi
 Download Companies (Amendment) Act, 2017

Satyam case may be moved to a special court for speedy trial
February, 02nd 2009

The high-profile Rs 7,000- crore Satyam fraud case is likely to be transferred to a special sessions court to expedite trial,
according to a senior police officer. The Criminal Investigation Department (CID), which is probing into the fraud after the software firms disgraced founder B Ramalinga Raju confessed to fudging the books, will shortly recommend the transfer of the case to a special sessions court. The high court will nominate a special sessions judge if the state government gives its approval, said a senior police official involved in the investigation.

In 1992, a special court was set up to expedite the trial of Big Bull Harshad Mehta. The special court was a bench of the High Court and was headed by Justice S N Variava. The Supreme Court later ruled that the special court had all powers of a sessions court or a magistrate.

The state police fears that the legal process could be time-consuming in regular over-burdened courts. The Satyam case relates to a brazen and complex financial fraud, which has tarnished the image of the IT industry in India and abroad. There may be some merit in setting up a special sessions court with the expertise to handle such a case, said a corporate lawyer who did not wish to be named.

The fraud perpetrated by Raju is the biggest in Indian corporate history. The probe has now been widened to cover Maytas Properties and Maytas Infra, the two firms linked to the promoter.

Investigating agencies are trying to trace the money missing from the software firms books and suspect that it may have gone into shell companies floated by Raju to trade in land and real estate. We have evidence of insider trading in several companies floated by Raju. His close relatives were on the boards of over 300 firms floated by him over the past several years, the official said.

While the income tax department has powers to attach the properties of Raju and his family, the state police can do so only after filing a chargesheet, said a senior police official. Raju, his brother Rama Raju and the former chief financial officer at Satyam are in judicial custody. Investigating agencies including Securities and Exchange Board of India and the Serious Frauds Investigation Office have been unable to interrogate Raju and his brother due to legal hurdles.

The AP High Court on Friday dismissed SEBIs plea to interrogate Raju and his brother on grounds that the order cannot be passed until the accused contests the market regulators plea.

The Court also asked the Serious Fraud Investigation Office to file a petition seeking the custody of the Raju brothers and their chief financial officer Srinivas Vadlamani for interrogation after February 9.

Meanwhile, two public interest litigations (PIL) have been filed in court. One PIL questioned the Rs 121-crore road project awarded to Maytas Infra on a nomination basis and another sought action against the former Satyam chairman for fudging books.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

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