The Central Bureau of Investigation on Tuesday informed a city court that B. Ramalinga Raju and other accused in the Satyam Computers fraud case forged board resolutions and unauthorisedly obtained loans and advances to the tune of Rs.1,220 crore.
They also created fake customers and generated invoices against their names to inflate the revenues of the company to the tune of Rs.430 crore. They resorted to a criminal breach of trust and falsified accounts pertaining to the acquisition of shares of Nipuna Services Ltd and the declaration/disbursement of dividends. Evidence also revealed the role of statutory auditors S. Gopalakrishnan and Talluri Srinivas in the fraud.
These are among the new charges levelled by the CBI in a 200-page supplementary charge sheet filed before XIV Additional City Metropolitan Magistrate’s Court after completion of further investigation against the 10 accused, including the then chairman Ramalinga Raju.
Massive documentation
The charge sheet cited 1,549 additional documents, 301 additional witnesses and nine material objects. The entire documentation runs into 55,000 pages.
The investigation agency has arraigned V. S. Prabhakar Gupta, global head, Internal Audit of Satyam Computers, who was arrested and remanded to judicial custody on November 21.
The other nine who figure in the first charge sheet filed on April 7 this year were charged with criminal conspiracy, criminal breach of trust, impersonation, cheating and forgery.
1,065 properties identified
The CBI quantified evidence of the wrongful gains made by the accused and the wrongful losses suffered by investors, and identified the huge assets acquired by the accused with the amounts obtained fraudulently.
A total of 1,065 properties, whose documented value is Rs. 350 crore, have been identified, and these include around 6,000 acres of land, 40,000 square yards of housing plots and 90,000 sq.ft of built-up area.
The CBI alleged that there was a conspiracy among the accused to cover up the accounting scam in Satyam Computers through the Satyam-Maytas acquisition deal and, in the process, cheat the investors of Maytas Infra Ltd and Maytas Properties Ltd.
Funds diversion
The agency said it was contemplating filing separate charge sheets on the diversion of Satyam Computers funds and on the fraud in filing the company’s income tax returns, as these acts amounted to distinct offences.
