Investor Presentaiton
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Satyam 2
On January 9, 2009, the Andhra Pradesh police took Raju and two
others into custody: his brother, Rama Raju, CEO and managing
director at Satyam, and Srinivas Vadlamani, CFO.
On the same day, the Central Government disbands the board
and on January 11 appoints three high-profile members to the
board. Three more are appointed on January 15.
On January 24, two partners from Price Waterhouse, the
company's auditors, are detained.
■ Andhra Pradesh police refuse to allow SEBI, the market regulator,
and other regulators to question the defendants without court
permission!
■ Lower court denies SEBI petition on technical grounds. It appeals to
the Andhra Pradesh High Court, but faces delays, so moves its
appeal to the Supreme Court (SC) on February 2. The SC granted
the regulator permission on February 3 to interview the defendants.
ACGA Presentation
HKCCA, May 6, 2009
12
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