 "In the dock: The accused in the Satyam case")
B RAMALINGA RAJU
The chairman of Satyam since its inception, CBI said he was conversant with all the activities and functions of the firm and its growth over a period of time and couldn’t disown his role in the decision-making and its implementation, especially finance and investment. Accused of luring innocent investors into buying SCSL shares by continuously publishing false and inflated balance sheets. He was stated to have made his family members offload their shares in the firm, generating funds to the tune of Rs 715.19 crore
VERDICT: Sentenced to seven years’ rigorous imprisonment and fined Rs 5 crore. Found guilty under Section 120-B r/w 420 IPC (criminal conspiracy and cheating), Section 409 IPC (criminal breach of trust by merchant or agent), Sections 467, 468, 471, 477-A IPC (forgery, using forged documents as genuine, and fudging of accounts), and Section 201 IPC (destruction of evidence)
B RAMA RAJU
Satyam’s MD. CBI said being the chief functionary of the firm, he couldn’t plead ignorance about the inflated data. He was one of the signatories to all the balance sheets containing falsified data. He subscribed his signatures on the manipulated annual financial statements, vouching for the propriety of their contents. Also charged with signing letters addressed to banks directing renewal of non-existent FDRs
VERDICT: Sentenced to seven years’ rigorous imprisonment (RI) and fined Rs 5 crore. Found guilty under Section 120-B r/w 420 IPC, Section 409 IPC, and Sections 467, 468, 471, 477-A IPC
VADLAMANI SRINIVAS
As chief financial officer, he dishonestly got the falsified inflated sales invoices generated and fed in the Oracle Financial system, CBI said. Though he was never designated director, he subscribed his signature in the annual statements as a director. The charges levelled against him included forging of bank statements and actively guiding personnel in the finance department with regard to the quantum of inflated sales to be infused into the computer system
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC, Section 406 IPC (criminal breach of trust), and Sections 467, 468, 471, 477-A IPC
S GOPALAKRISHNAN
A partner at Price Waterhouse (PW), the statutory auditors of SCSL from 2001 to 2007, he was accused of consciously overlooking the firm’s accounting irregularities. As a consideration for his acts, he was stated to have received “exorbitant” audit fees over and above the market rate
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC, Section 406 IPC, Section 419 IPC (impersonation), and Sections 467, 468, 471, 477-A IPC
SRINIVAS TALLURI
Another partner at PW. Accused of continuing the “legacy” of Goplakrishnan in 2007-08. Though he had received confirmations from banks which were in variance with the figures provided by the management, the CBI stated, Srinivas had chosen the forged bank confirmations provided by the other accused and incorporated these into the final accounts. In consideration of his acts he had also received audit fee from SCSL over and above the market rate
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC, Section 406 IPC, Section 419 IPC, and Sections 467, 468, 471, 477-A IPC
B SURYANARAYANA RAJU
Raju’s brother, he was a director in 75 of the 327 companies floated by the former, his family and relatives. His role, the CBI said, was in obtaining loans from non-banking finance companies in the name of 10 of the 327 firms by pledging shares of Satyam promoters through SRSR Holdings, of which he was director. Thus, he raised loans to the tune of Rs 1,744 crore. He also had the power of attorney of Raju and Rama Raju to sign documents for pledging shares
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC, and Section 406 IPC
G RAMAKRISHNA
He was vice-president (finance) and was accused of generating false MIS reports till 2003 and later got them generated through his subordinates. Also charged with formatting Ramalinga Raju’s laptop a day before Raju confessed to the accounting fraud, in order to destroy digital evidence. He had also been accused of instructing his subordinates to delete the records from the computers. He was stated to have received SCSL shares through preferential allocation
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC, Section 406 IPC, Section 419 IPC, Sections 467, 468, 471, 477-A IPC, and Section 201 IPC
D VENKATAPATHI RAJU
He was senior manager (finance) and looked after the treasury department. Several incriminating records, including forged FDRs and monthly bank statements, were stated to have been retrieved from his laptop. His spouse was stated to be one of the 17 people through whom the promoters sold their shares in the open market in 2000. He was allocated shares out of turn
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC
SRISAILAM CHETKURU
He was assistant manager (finance) and in charge of sales. He was accused of creating 7,561 falsified sales invoices and getting the data fed into systems by his subordinates. Also charged with instructing his subordinates to delete the electronic records and reverse certain entries in the Oracle Financials after the aborted Maytas deal. Also allocated shares out of turn
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC, and Sections 467, 468, 471, 477-A IPC
VSP GUPTA
Was global head of internal audit. CBI said though he noticed anomalies in 13 invoices raised against three firms, he didn’t bring these to the notice of the audit committee. Besides, he was accused of intentionally submitting a prioritisation plan to the audit committee for postponing the audit of many items citing shortage of manpower
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC
The chairman of Satyam since its inception, CBI said he was conversant with all the activities and functions of the firm and its growth over a period of time and couldn’t disown his role in the decision-making and its implementation, especially finance and investment. Accused of luring innocent investors into buying SCSL shares by continuously publishing false and inflated balance sheets. He was stated to have made his family members offload their shares in the firm, generating funds to the tune of Rs 715.19 crore
VERDICT: Sentenced to seven years’ rigorous imprisonment and fined Rs 5 crore. Found guilty under Section 120-B r/w 420 IPC (criminal conspiracy and cheating), Section 409 IPC (criminal breach of trust by merchant or agent), Sections 467, 468, 471, 477-A IPC (forgery, using forged documents as genuine, and fudging of accounts), and Section 201 IPC (destruction of evidence)
B RAMA RAJU
Satyam’s MD. CBI said being the chief functionary of the firm, he couldn’t plead ignorance about the inflated data. He was one of the signatories to all the balance sheets containing falsified data. He subscribed his signatures on the manipulated annual financial statements, vouching for the propriety of their contents. Also charged with signing letters addressed to banks directing renewal of non-existent FDRs
VERDICT: Sentenced to seven years’ rigorous imprisonment (RI) and fined Rs 5 crore. Found guilty under Section 120-B r/w 420 IPC, Section 409 IPC, and Sections 467, 468, 471, 477-A IPC
VADLAMANI SRINIVAS
As chief financial officer, he dishonestly got the falsified inflated sales invoices generated and fed in the Oracle Financial system, CBI said. Though he was never designated director, he subscribed his signature in the annual statements as a director. The charges levelled against him included forging of bank statements and actively guiding personnel in the finance department with regard to the quantum of inflated sales to be infused into the computer system
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC, Section 406 IPC (criminal breach of trust), and Sections 467, 468, 471, 477-A IPC
S GOPALAKRISHNAN
A partner at Price Waterhouse (PW), the statutory auditors of SCSL from 2001 to 2007, he was accused of consciously overlooking the firm’s accounting irregularities. As a consideration for his acts, he was stated to have received “exorbitant” audit fees over and above the market rate
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC, Section 406 IPC, Section 419 IPC (impersonation), and Sections 467, 468, 471, 477-A IPC
SRINIVAS TALLURI
Another partner at PW. Accused of continuing the “legacy” of Goplakrishnan in 2007-08. Though he had received confirmations from banks which were in variance with the figures provided by the management, the CBI stated, Srinivas had chosen the forged bank confirmations provided by the other accused and incorporated these into the final accounts. In consideration of his acts he had also received audit fee from SCSL over and above the market rate
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC, Section 406 IPC, Section 419 IPC, and Sections 467, 468, 471, 477-A IPC
B SURYANARAYANA RAJU
Raju’s brother, he was a director in 75 of the 327 companies floated by the former, his family and relatives. His role, the CBI said, was in obtaining loans from non-banking finance companies in the name of 10 of the 327 firms by pledging shares of Satyam promoters through SRSR Holdings, of which he was director. Thus, he raised loans to the tune of Rs 1,744 crore. He also had the power of attorney of Raju and Rama Raju to sign documents for pledging shares
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC, and Section 406 IPC
G RAMAKRISHNA
He was vice-president (finance) and was accused of generating false MIS reports till 2003 and later got them generated through his subordinates. Also charged with formatting Ramalinga Raju’s laptop a day before Raju confessed to the accounting fraud, in order to destroy digital evidence. He had also been accused of instructing his subordinates to delete the records from the computers. He was stated to have received SCSL shares through preferential allocation
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC, Section 406 IPC, Section 419 IPC, Sections 467, 468, 471, 477-A IPC, and Section 201 IPC
D VENKATAPATHI RAJU
He was senior manager (finance) and looked after the treasury department. Several incriminating records, including forged FDRs and monthly bank statements, were stated to have been retrieved from his laptop. His spouse was stated to be one of the 17 people through whom the promoters sold their shares in the open market in 2000. He was allocated shares out of turn
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC
SRISAILAM CHETKURU
He was assistant manager (finance) and in charge of sales. He was accused of creating 7,561 falsified sales invoices and getting the data fed into systems by his subordinates. Also charged with instructing his subordinates to delete the electronic records and reverse certain entries in the Oracle Financials after the aborted Maytas deal. Also allocated shares out of turn
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC, and Sections 467, 468, 471, 477-A IPC
VSP GUPTA
Was global head of internal audit. CBI said though he noticed anomalies in 13 invoices raised against three firms, he didn’t bring these to the notice of the audit committee. Besides, he was accused of intentionally submitting a prioritisation plan to the audit committee for postponing the audit of many items citing shortage of manpower
VERDICT: Sentenced to seven years’ RI and fined Rs 25 lakh. Found guilty under Section 120-B r/w 420 IPC