Satyam fixed deposit receipts forged
Appearing before the Nampally court in Hyderabad for the hearing of the CID’s petition seeking further police custody of former Satyam chief B Ramalinga Raju and ex-CFO Vadlamani Srinivas here on Thursday afternoon, CID’s public prosecutor K Ajay Kumar told the magistrate that the Rajus have confessed to forging all the FD documents that have been deposited in various documents and other crimes.
B Ramalinga Raju is said to have confessed that the Satyam company’s fixed deposits documents had been forged. He also confessed to diverting as much as Rs 20 crore every month from the IT Company. He also admitted to holding more than 400 benami land transactions running into thousands of acres. Raju stated that he claimed the staff strength of the company was 53,000 when it was actually only 40,000.
The court extended the police custody.