Raju's statement only partly true: Gurumurthy | india | Hindustan Times
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Raju's statement only partly true: Gurumurthy

india Updated: Feb 04, 2009 22:42 IST

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Pointing fingers at the Andhra Pradesh administration for its alleged complicity in the Satyam scam case, noted activist and chartered accountant S Gurumurthy on Wednesday said confessional statement of IT major's disgraced Chairman S Ramalinga Raju was only partly true.

"The letter (Raju's confession statement of January 7) is only true that there is no cash balance," he said in New Delhi at a discussion on "Satyam: Whose Fault", organised by the Swadeshi Jagran Manch.

"The cash must have come in and drawn out," Gurumurthy said while referring to the confession statement in which Raju had admitted fudging of books of accounts for several years to the tune of about Rs 7,800 crore.

As regards the role of Andhra administration in the Satyam scam, Gurumurthy wanted to know how the state government could award projects worth Rs 38,000 crore to Maytas Infra, a company which started operations as late as in 2004 and had a total turnover of over Rs 2000 crore.

Similarly, he questioned the way a piece of prime land, belonging to police and urban development department, was given to another Satyam-related entity, Maytas Properties, in Visakhapatnam at the instance of the state administration.

The Corporate Affairs Ministry has already ordered inspection of the books of accounts of Maytas Infra and Maytas Properties, the companies promoted by kin of Raju.