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
Latest Expert Exchange
« News Headlines »
 5 things you should not forget while filing income tax return
 10 Easy Steps to File ITR 1 Online
 How to e-verify income tax return?
 What to do when you receive a notice from the tax department
 How to use your Form 16
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19

Serious Fraud Investigation Office concludes Satyam probe
April, 15th 2009

The Serious Fraud Investigation Office (SFIO), which had the task of investigating the Rs 7,000 crore Satyam fraud, has submitted its report to the government.

This is apart from the Central Bureau of Investigation (CBI) probe. The CBI filed its formal chargesheet on April 7.

The government, on January 13, had initiated an SFIO probe into various corporate aspects of the fraud under Section 235 of the Companies Act after getting a report from the Registrar of Companies, Andhra Pradesh. The report was submitted to the government on Monday night, said a senior corporate affairs ministry official who declined to reveal the contents of the report.

Hyderabad-based Satyam was left in the lurch after its founder, B Ramalinga Raju, confessed to cooking the companys books for many years. The SFIO was asked to look into all aspects of the case and was to give its report within three months. It has done so before the deadline.

The report runs into 12,000 pages in 30 volumes. While the SFIO has probed the money trail and other aspects within the country, it has referred the matter related to fund transfers outside India to the Enforcement Directorate.

According to another official, after the ministry examines the report, the government will decide whom to prosecute and under what provisions of law.

The SFIO is a multi-disciplinary body set up in 2003 to investigate serious financial frauds. It consists of tax professionals, auditors, fraud examiners, capital market experts and banking professionals.

Besides Satyam, the SFIOs ambit included Maytas Properties and Maytas Infra, both promoted by Rajus two sons. It inspected the books of accounts and documents of eight other companies connected with Satyam.

The investigations cover both breach of the Indian Penal Code and violations of the company law. On April 7, the CBI had filed a 2,315-page chargesheet against the nine accused, including B Ramalinga Raju, for perpetrating the fraud. The nine are charged with various breaches of the IPC, including criminal conspiracy, cheating, forgery of valuable security, forgery for the purpose of cheating, using forged documents as genuine, falsification of accounts and causing disappearance of evidence.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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