A local court in Hyderabad that is hearing a case of fraud against Satyam Computer Services founder B. Ramalinga Raju has deferred a judgment till March 9.
The court of XXI Chief Metropolitan Magistrate court at Nampally in Hyderabad was to announce a verdict on Tuesday in the case filed by the Central Bureau of Investigation.
Judge B.V.L.N. Chakravarthi cited the voluminous documents in the case as the reason for deferring an order on the matter.
According to lawyers involved in the case, more than 3,000 documents running into anything between 50,000 to 1,00,000 pages and 226 witnesses were examined.
On December 8, the Economic Offences court in Hyderabad sentenced Raju, his brother Rama Raju and eight others to six months of imprisonment and a fine of Rs 5 lakh. Those convicted have been given a month to appeal.
This case was filed by the Serious Fraud Investigation Office in 2009.
The Satyam accounting scandal came to light on January 7, 2009, when Raju sent out a letter to the company's board members admitting that the books of the company had been cooked.
A couple of days after he sent the letter, Raju was arrested by the Andhra Pradesh Criminal Investigation Department.
The Central Bureau of Investigation subsequently took up the matter and has so far filed three charge sheets against the 10 accused. Three months after Raju's letter, the Mahindra Group acquired Satyam Computer and gave it a new identity - Mahindra Satyam, which merged with Tech Mahindra on June 25 last year.
The combined $2.7 billion entity is now called Tech Mahindra.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today