Hyderabad, August 18: A local court today directed the CBI to submit “specific material” on its allegations against the former Chairman of Satyam Computers, B Ramalinga Raju, and nine other accused in the multi-crore accounting scam in the IT firm, prior to framing of charges against them.
The XXI Additional Chief Metropolitan Magistrate court, which today began hearing arguments on framing of charges against the accused, asked the CBI counsel to inform it in a specific way on the agency’s allegations against the accused in two main chargesheets, besides a supplementary chargesheet.
CBI counsel K Surendra said as part of the conspiracy, the accused projected a rosy picture about the financial status of Satyam and lured investors ‘dishonestly and fraudulently’ to invest in the shares of Satyam Computer Services Limited, making wrongful gains to the tune of crores of rupees.
–Agencies