The 2009 multi-crore Satyam scam case started with a complaint filed by a shareholder, two days after founder of the erstwhile SCSL B Ramalinga Raju allegedly confessed to manipulating his company's account books and inflating profits over many years to the tune of crores.
On the basis of the complaint filed by Leena Mangat, a resident of Secunderabad, the CB-CID had filed an FIR on January 9, 2009 against Ramalinga Raju (Chairman), his brother B Rama Raju (MD) and other directors, auditors and others.
Mangat, in her complaint, had said she invested her retirement benefits in purchasing the shares of the Satyam Computer Services Limited on seeing the performance of the company represented and reflected through the balance sheet with the belief and representations made by the Chairman, the Managing Director and other Directors of SCSL, to be true.
The complainant had then said she invested her hard earned money and purchased 100 shares of the SCSL about four years back for a total sum of Rs 19,000 and the value of the company's share was at around Rs 500 in the market then.
"That due to the fudging of the company accounts and manipulation of records showing incorrect inflated balance sheets by the Chairman, MD and other Directors of the company which were certified by the auditors, the value of the shares of the company suddenly dropped causing huge financial loss to the complainant and other share holders," she had said in the complaint.
The depreciation in the value of the shares is due to "dishonest and fraudulent acts" committed by the functionaries who are managing the affairs of the company and are associated with its day-to-day affairs, the complainant had said.
