Investor Presentaiton
Satyam 3
Through February and March 2009, SEBI and the Ministry of
Corporate Affairs amend rules to help the company survive. On
March 6, SEBI gave the company approval to start a global
competitive bidding process.
On April 7, Vadlamani told the Institute of Chartered Accountants
of India (ICAI) that other people in the finance department helped
to cover up the fraud. Three more Satyam employees from its
finance department are arrested.
The same day, the Central Bureau of Investigation (CBI) filed a 300-
page charge sheet against the six Satyam executives, two Price
Waterhouse partners and a director at SRSR Advisory Services. The
charges include criminal conspiracy, cheating, cheating by
impersonation, forgery, falsification of accounts, etc. CBI has cited
433 witnesses and 1532 documents.
On April 13, Tech Mahindra wins auction bid for a controlling stake.
in Satyam.
ACGA Presentation
HKCCA, May 6, 2009
13
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