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Court issues fresh summons in Satyam case

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CIOL Bureau
New Update

HYDERABAD, INDIA: A local court today issued fresh summons to two former directors of Satyam Computers, Ram Mynampati and Krishna G Palepu, in connection with a case filed by the Serious Frauds Investigations Office (SFIO), the investigation arm of the Union Corporate Affairs Ministry.

According to a PTI report, among the 11 former directors, against whom seven complaints were filed by SFIO for alleged violations under different sections of the Companies Act of 1956, and summons issued consecutively are, former cabinet secretary T R Prasad, ex-director of IIT V S Raju and former dean of ISB M Rammohan Rao, who appeared before Special Court for Economic Offences here.

The accused have been charged with fudging the balance sheets, deceiving shareholders, taking huge benefits and dividends as directors and showing unpaid dividends as paid.

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