Verdict in Satyam fraud case on April 9

A special CBI court here on Monday postponed its verdict in the multi-crore Satyam fraud case to April 9.

Special judge BVLN Chakravarthi had said that he would require at least three weeks time to get the order typed out, amidst anticipation that the much awaited verdict would be pronounced on Monday. 

The court had completed the trials and witnesses in the six-year-old case, which shook the corporate world after its founder and former chairman B Ramalinga Raju confessed to fudging of Satyam Computer's account books and inflating profits over many years to the tune of Rs 7, 136 crore on January 7, 2009.

The CBI probing the case alleged that the scam had caused a loss of Rs 14,000 crore to Satyam shareholders, besides the huge damage to the country’s IT sector.

Employees of Satyam computers were under stress over the company’s long term prospects, when the government suspended its board and appointed industry experts in its place to steer it out of troubled.

Satyam was later sold to Tech Mahindra which has since then merged it.

Around 3,000 documents were marked and 226 witnesses examined during the trial that began nearly six years ago.

Besides Raju, the nine others accused in the case include his brother and Satyam's former managing director B Rama Raju, former chief financial officer Vadlamani Srinivas, former PwC auditors Subramani Gopalakrishnan and T Srinivas.