Media reports on Satyam

22 January 2009

Ever since the Raju brothers and CFO Srinivas Vadlamani, were handed over for interrogations to the state CB-CID, the investigators have been releasing information to the media of what they say Satyam's three former top managers have said under interrogation, that has led the investigators into scrutinising various transactions by Maytas Infra and Maytas Properties.

Serval media reports have stated details of the investigation which as of now are unverified.
Here are extracts of some:

CNBC TV18
Andhra Pradesh CB-CID has raided the house of Suryanarayana Raju in Hyderabad and recovered 112 sale deeds of different land purchases and development agreements.

Suryanarayana Raju is the youngest sibling of Ramalinga Raju and owns 4.3 per cent in Maytas Infra, the infrastructure services firm promoted by the Raju family.

Documents of 41 companies have been recovered, which include meeting minutes, income tax returns and bank accounts. Several cheque books, cash vouchers in Ramalinga Raju's name have also been recovered. The raids began last night and continued throughout today.

The Economic Times
Satyam Computer Services' chief financial officer Srinivas Vadlamani has given a new turn to ongoing investigations by confessing to having inflated the number of employees by 10,000.