The Hindu : Front Page : It’s not true, says lawyer

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Friday, Jan 23, 2009
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Front Page

It’s not true, says lawyer

Special Correspondent

HYDERABAD: S. Bharat Kumar, counsel for the former Satyam chairman, B. Ramalinga Raju, has refuted the charge that Mr. Raju faked the salary accounts of thousands of employees.

In a statement here on Thursday, Mr. Kumar described media reports to this effect as fictitious. He said that none of the journalists bothered to verify whether this was possible.

Counsel for the CID argued in the court on Thursday that the number of Satyam employees was inflated by 13,000.

“We request the media to find through Satyam Computer Services Limited the number of people sitting on the bench and paid every month. What is the cost earning ratio per employee in Sayam so that people would know the real story? Why is the media not asking for the Q3 results of Satyam, which will reflect the real side of Satyam’s financial strengths?”

Mr. Kumar said Mr. Raju was being projected as a person who took away money from Satyam without possessing a single piece of evidence. He had, in fact, pumped Rs. 1,230 crore into Satyam, all by way of cheques and which was accounted in the books. These details were furnished to the Board of Directors and the CID. He criticised the media for not verifying Satyam’s bank accounts in HDFC, Citibank, BNP Paribas, ICICI Bank and HSBC.

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