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Price Waterhouse auditors denied bail in Satyam case

Price Waterhouse auditors denied bail in Satyam case
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First Published: Thu, Apr 09 2009. 11 20 PM IST

No relief: Srinivas Talluri (left) and S. Gopalakrishnan. PTI
No relief: Srinivas Talluri (left) and S. Gopalakrishnan. PTI
Updated: Thu, Apr 09 2009. 11 20 PM IST
Hyderabad: A Hyderabad court on Thursday rejected the bail pleas of the two Price Waterhouse auditors accused in the Rs7,136 crore accounting fraud at software services firm Satyam Computer Services Ltd.
S. Gopalakrishnan and Srinivas Talluri, partners of Price Waterhouse, Satyam’s auditors from mid-2000 to September 2008, were arrested on 24 January on charges of conspiring in the fraud. They have since been in judicial custody at the Chanchalguda central jail.
No relief: Srinivas Talluri (left) and S. Gopalakrishnan. PTI
The Central Bureau of Investigation (CBI) on Tuesday filed charges against B. Ramalinga Raju, the founder of Satyam, and eight others including the two auditors.
Price Waterhouse said in a statement it was disappointed that its partners were denied bail. The audit firm has been insisting that the fraud was perpetrated by Raju and the two partners were victims.
“The two partners, who are committed to cooperating with all investigating authorities, have now been held in custody for over 10 weeks. During this time, the partners have consistently denied any criminal wrongdoing,” Price Waterhouse said.
Meanwhile, signature and handwriting samples were taken from Ramalinga Raju, his brother B. Rama Raju, then chief financial officer Srinivas Vadlamani as well as Talluri and Gopalakrishnan.
The court has posted hearings on CBI’s plea to conduct a lie-detector tests on the first three for 13 April.
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First Published: Thu, Apr 09 2009. 11 20 PM IST