An investigating officer of the Serious Fraud Investigation Office (SFIO) today told the Special Court for Economic Offences here that B Ramalinga Raju and four other former directors of Satyam Computers had not disclosed full particulars of the firm to the Registrar of Companies (ROC) for two fiscal years.
In his deposition before the court, Subhash Sarsonia, alleged that Satyam Computers and its directors violated Section 220 (1) of Companies Act by not disclosing full particulars (balance sheets and annual reports for the period of 2006-07 and 2007-08) to the Registrar of Companies.
The court also marked 14 documents related to annual reports of Satyam Computers and later posted the case for cross-examination of Sarsonia to December 21.
SFIO, investigation arm of the Union Corporate Affairs Ministry, had filed seven complaints against 11 directors of Satyam for alleged violations under different sections of the Companies Act in the Special Court here last December.
Satyam founder Ramalinga Raju, former managing director B Rama Raju and its ex-CFO Vadlamani Srinivas, who are under judicial custody in connection with the multi-crore accounting fraud in the firm, were present during the examination of the witness.
Along with the three, Satyam’s then Company Secretary G Jayaraman and Ram Mynampati, the then Satyam’s whole time director have also been named as accused. Trial in this case began in June this year.
The cases filed by SFIO against Satyam Computers include violations by way of furnishing distorted figures of profit and loss, distribution of dividend on a non-existing profit of Rs 1,715.75 crore when there was actually a loss of Rs 44.43 crore and failure of balance sheets to reflect particulars of employees.