Over 110 cos by Satyam promoters had accounts with HDFC

In his deposition before the XXI Additional Chief Metropolitan Magistrate (ACMM) Court here, branch manager of HDFC (Begumpet branch) C H Srinivas gave details on the banking transactions carried out by Satyam Computer Service Ltd (SCSL) which maintained five accounts with their bank.

Srinivas told the court that "CBI asked information regarding 327 companies if they are holding account in the bank. We verified the records and found 114 private limited companies out of the 327 companies asked by CBI are having accounts in our bank. We have also given the statement of accounts of these companies."

Srinivas gave details pertaining to the payment and receipts (between 1999 and 2008) worth several crores made to, and from, SCSL to various companies and individuals. Besides, details were given on the aspect of shares and dividends. Over 184 documents were likely to be marked during his examination, which will continue tomorrow as well.

The CBI chargesheet had earlier claimed that a total of 327 companies were incorporated from 1999 to 2008 by Ramalinga Raju, his brother B Rama Raju along with their family members.

Of these, 83 companies belong to Ramalinga Raju, his wife B Nandini Raju and sons B Teja Raju and B Rama Raju (Junior); 78 companies to B Suryanarayana Raju, his wife B Jhansi Rani and their children B Purnima and B Satayanarayana Raju; 86 companies to B Rama Raju, his wife B Radha and their children Deepti and Rahul Raju.

The remaining 80 companies belonged to other members of the family and trusted employees, the CBI said. The CBI alleged that an exclusive company, SRSR Advisory Services Pvt Ltd, with B Suryanarayana Raju as the director, was floated for providing accounting and advisory services to these companies.

Meanwhile, CBI sources said that so far 26 bankers were examined by the court and six more witnesses (bank officials) were likely to be presented. Once the examination process of bankers was over the Court will begin examination of Satyam employees who have been cited as CBI witnesses.