CBI opposes PwC auditor's bail in SC

Last Updated 18 January 2010, 15:46 IST

Additional Solicitor General Harin Raval told a Bench headed by Chief Justice K G Balakrishnan that Talluri was part of the conspiracy in the entire fraud. He said reports received in response to Letters Rogatory from abroad showed there are sufficient evidence against him.

Raval said that during the investigation, it was found that Talluri was partner in some other company. He has also not cooperated in the investigation, he added.
The Bench issued a notice to CBI and posted the matter for hearing after two weeks.
The Andhra Pradesh High Court had rejected the bail pleas of Talluri and another Price Waterhouse auditors S Gopalakrishnan accused in the Rs 7,136-crore accounting fraud at Satyam Computer Services Ltd.

Talluri, while denying any criminal wrongdoing, has said his role was minimal and charged CBI with adopting an unprofessional approach by linking all the accused.
Attachment of properties

Meanwhile, the attachment of 287 properties worth Rs 168 crore and 34 lakh Satyam shares by Enforcement Directorate has been upheld by the adjudicating authority of the department, which alleged that disgraced Satyam founder B Ramalinga Raju and his associates were involved in money laundering.

“... we conclude that all the properties, both movable and immovable, under attachment...are involved in money laundering and represents proceeds of crime,” said the authority while confirming the provisional attachment of properties done by the ED.
The properties include over 34 lakhs shares of Satyam Computers (now Mahindra Satyam) and 287 land assets in Andhra Pradesh and Maharashtra, estimated to be worth Rs 168 crore.

ED had attached these properties following investigation into the accounting fraud which was admitted by Raju in his disclosure to market regulator Sebi on January 7, 2009.
The properties, which were attached under the various provision of the Prevention of Money Laundering Act, 2002, will remain under the possession of the ED till the disposal of cases against Raju and his associates in the trial court.

The ED in its 11,000 page complaint filed with the authority in September last year against Raju and his 131 associates, had alleged that properties were obtained through the ill-gotten gains from Satyam fraud.

In its report, ED had alleged that Raju’s brothers Rama Raju and Suryanarayan Raju, their wives, sons, other family members and employees were among the 133 people in whose names these properties were registered.
ED was represented by its counsel Rajeev Awasthi before the adjudicating authority.

(Published 18 January 2010, 15:46 IST)

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