Opposing the bail pleas of the two in the court of the VII Additional Metropolitan Sessions Judge, senior public prosecutor B Ravindranath and counsel T V Ramana informed the court that the agency has sufficient evidence to prove that the partners of Price Waterhouse are guilty.
“Prima facie, the case attracts participation from these two auditors in the fraudulent transactions of the company,” they contended.
“It’s a pre-planned fraud and they signed the balance sheets while auditing Satyam’s accounts for the past seven years,” the CBI counsels said.
The court reserved its order for May 25.
Strongly opposing bail for the former auditors of PW, the CBI counsels said the CBI is thoroughly investigating to find out the fraud expenditure and diversion of funds (to the tune of Rs 10,000 crore) from Satyam Computer and the expenditure item in the balance sheet.
“CBI wants to examine many witnesses to establish the case against the accused persons. The investigation of CBI is at a crucial stage and if the court grants bail to S Gopalkrishnan and Talluri Srinivas, further investigations of CBI will be affected.”
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