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% :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: empanelment :: form 3cd :: articles on VAT and GST in India :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: VAT Audit :: cpt
 
 
« News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

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 2017 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