HC allows US court to secure documents in Satyam fraud case
The Delhi High Court on Friday allowed a request of US district court to examine witnesses and secure documents related to accounting fraud in Satyam Computer (now Mahindra Satyam) from IT industry body NASSCOM.business Updated: Jul 17, 2009 23:26 IST
The Delhi High Court on Friday allowed a request of US district court to examine witnesses and secure documents related to accounting fraud in Satyam Computer (now Mahindra Satyam) from IT industry body NASSCOM.
Justice S Ravindra Bhatt allowed the plea of UPAID Systems, a British mobile solutions company which had claimed USD 1 billion compensation from Satyam alleging that fraudulent activities by the IT firm caused huge losses.
UPAID Systems had approached the District Court of Texas and the US Court had issued a letter of request for recording and deposition of witnesses and answers of some written questions regarding fraud by Satyam from NASSCOM.
To get it implemented in India, UPAID Systems had approached the Delhi High Court.
After hearing the plea, Justice Bhatt appointed advocate Jayant Tripathi to obtain the written testimony of the NASSCOM to be submitted in the US court.
UPAID Systems had submitted in the US court that NASSCOM's testimony was important in the matter as Mahindra Satyam was its member and the founder of the firm, B Ramalinga Raju, was former Chairman of the industry body.
It alleged that negligent misrepresentation, forgery and breach of contract by Mahindra Satyam. Satyam has sold some geographical patterns to UPAID, which allegedly turned out to be invalid. The suit is still pending in the US court.