Hyderabad: The Central Bureau of Investigation (CBI) probing the multi-crore financial fraud in Satyam Computer Services Ltd on Thursday filed another chargesheet against six accused, including founder and former chairman B. Ramalinga Raju, for submitting “false income tax returns”.
More charges: A file photo of Satyam founder B. Ramalinga Raju. Bharath Sai / Mint
The chargesheet, containing 30 pages, citing 32 documents and 26 witnesses, focuses on the filing of allegedly false income tax returns by Raju, Satyam’s former managing director Rama Raju, former chief financial officer Vadlamani Srinivas, two former auditors of Price Waterhouse, S. Gopalkrishnan and Talluri Srinivas, and former vice-president of the company, G. Ramakrishna.
“The accused have inflated the revenue of the company by infusing false and fictitious sale invoices and shown the amount received and deposited as fixed deposits in various banks,” CBI deputy inspector-general V.V. Laxminarayana said.
He said due to this inflated revenue and the inflated income in the form of interest on the non-existent fixed deposit, there was an additional tax liability of Rs526.37 crore on the company.
According to the chargesheet, the accused also conspired and showed higher tax remittances in foreign countries to get relief.
The chargesheet was filed under Sections 120-B (criminal conspiracy), 409 (criminal breach of trust), 420 (cheating), 467 and 468 (forgery for the purpose of cheating), 471 (use of forged documents as genuine) and 477-A (falsification of accounts) of the Indian Penal Code.