CBI files another charge sheet against Raju, 5 others | india | Hindustan Times
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CBI files another charge sheet against Raju, 5 others

CBI, probing the multi-crore financial fraud in Satyam Computers, Thursday filed another charge sheet against six accused including the IT firm's disgraced founder B Ramalinga Raju for submitting "false income tax returns".

india Updated: Jan 07, 2010 19:53 IST

CBI, probing the multi-crore financial fraud in Satyam Computers, Thursday filed another charge sheet against six accused including the IT firm's disgraced founder B Ramalinga Raju for submitting "false income tax returns".

The agency filed the charge sheet, containing 30 pages citing 32 documents and 26 witnesses, in the court of Additional Chief Metropolitan Magistrate.

It focuses on filing of false income tax returns by Raju, Satyam's former MD Rama Raju, ex-CFO Vadlamani Srinivas, two former auditors of Price Waterhouse S Gopalkrishnan and Talluri Srinivas and Satyam Computers Services Limited (SCSL) employee G Ramakrishna, who was then vice-president (Finance).

The CBI brought out evidence against the accused on the allegations of filing false income tax returns with "fraudulent and dishonest intentions of cheating the shareholders of SCSL.

"The accused have inflated the revenue of the company by infusing false and fictitious sale invoices and shown the amount received and deposited as fixed deposits in various banks," CBI DIG V V Laxminarayana said.

He said due to this inflated revenue and the inflated income in the form of interest on the non-existent fixed deposit, there was an additional tax liability of Rs 526.37 crore on the company.

According to the charge sheet, the accused also conspired and showed higher tax remittances in foreign countries to get relief.