SFIO files for Rajus’ prosecution on 2 counts

Hyderabad
Dec. 1: The Serious Fraud Investigation Office (SFIO) investigating into the Satyam scam has sought the prosecution of Rajus under section 211 of Companies Act for falsifying the balance sheet and under section 629 for misleading the investigating team, under the Indian Companies Act.
The SFIO has alleged that the Satyam Computer Services Limited former chairman, Mr B. Ramalinga Raju, and others falsified balance sheets and mislead the probe team.
The SFIO filed four separate complaints against the Rajus in this regard in the Special Court for Economic Offenses at Nampally here.
According to sources in SFIO, the Satyam former managing director, Mr B. Rama Raju, and others were accused of deliberately trying to mislead the probe team.
Section 629 of the Act speaks about penalty for providing false evidence.
SFIO alleged Satyam deviated from the prescribed accounting standards.
SFIO also alleged that on scrutiny of the current account balances obtained from the bank, huge differences were discovered right from financial year 2001-02 onwards.
Meanwhile, the 14th Additional Chief Metropolitan Magistrate is yet to sign the documents filed in the supplementary chargesheet by the CBI.