Satyam scam: Court records statements of three bank officials

Satyam scam: Court records statements of three bank officials

The court recorded the statements of S Ganesh of IDBI Bank, M Gopalakrishna of SBI and D B V Satish of Bank of Nova Scotia. Ganesh told the court that Satyam Computer Services Limited (SCSL) had a fixed deposit of Rs 5 crore with IDBI Basheer Bagh branch.

The company initially deposited the amount for 13 days, later withdrew it and re-deposited it for 14 and 15 days. The bank paid the maturity amount after deducting TDS, the IDBI official informed the court.

The official from SBI said the SCSL, which opened a current account in their Abids branch in 1987, has not maintained many transactions. The Scotia official gave the court details of fixed deposits of SCSL with them.

The XXI ACMM court here last week began trial in the country's largest corporate fraud involving a sum of Rs 14,000 crore in SCSL. In January 2009, Ramalinga Raju, former Chairman of SCSL had admitted to the accounting scam at the company, now known as Mahindra Satyam.

DH Newsletter Privacy Policy Get top news in your inbox daily
GET IT
Comments (+)