The Hindu : Business : ICAI framing charges on two Satyam staff

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Tuesday, Jan 25, 2011
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ICAI framing charges on two Satyam staff

Special Correspondent

HYDERABAD: The International Taxation Committee of the Institute of Chartered Accountants (ICAI), the accounting regulator, will henceforth hold all its disciplinary meetings concerning the multi-crore Satyam Computer scam, here only.

The decision is said to have been taken as the accused expressed their inability to travel to New Delhi in view of the order by the Central Bureau of Investigation restraining their movement out of Hyderabad. The next hearing of the Committee will be held in the third week of February.

ICAI Vice-President G. Ramaswamy said here on Monday that they were in the process of framing charges against two employees of erstwhile Satyam Computer. They include Vadlamani Srinivas, former Chief Financial Officer, and V. Prabhakar Gupta, International Auditor in Satyam Computer.

Also, disciplinary proceedings regarding the role of the statutory auditors, S. Gopalakrishnan and Srinivas Talluri, are under way.

Mr. Ramaswamy, who is to take over as ICAI President on February 12, said the order of the Delhi High Court in December last clearly stated that criminal proceedings and investigations into alleged professional misconduct were two different things.

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