Srinivas Vadlamani, CFO of Satyam attempts suicide: Sources

Chief Financial Officer of Satyam, Srinivas Vadlamani attempted sucicide as he was allegedly involved in the Company’s financial fraud, say market sources. He is, however, safe, sources add.

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Raju might be arrested today

Satyam Computer Services Chairman Ramalinga Raju might be arrested today by the police due to pressure on AP government to arrest Raju

Satyam likes to continue business and Protect Staff

Satyam spokesman speaking at the news conference said to the its top 100 clients that satyam aims to continue the business and also the to protect employees career.

Right now Interim CEO of Satyam will be Ram Mynampati, Ram said that the company will be helping in investigating agencies and had launched a process to assess its financial position.

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Satyam Founder might face 10-yr jail

As Satyam Computer's Founder and Chairman Ramalinga Raju who has claimed himself for the fraud of Rs. 7000 crore and gave statement that no other Board Member and Senior Executive is aware of the fraud, Raju and any other director/executive found to be involved in the scam are liable to be prosecuted on charges punishable with imprisonment up to 10 years.

The Below might be the serious penalities that Raju might face under various Laws:

* Section 23 of the securities contract regulation Act 1956, that imposes a penalty of imprisonment up to 10 years and fine up to Rs 25 crore and more sections.

And Satyam is holding news conference at 5PM on Thursday

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Satyam : Fraud of over Rs 7,000 crore

Satyam, means truth but Ramalinga Raju promoter-chairman of Hyderabad-headquartered Satyam Computers, has lied for years to shareholders, employees at large by making a fraud of Rs 7,000 Crore.

TCS, Infosys, Wipro and country's fourth largest IT company was Satyam, by making the fraud satyam computers is knocked to the bottom and which inturn resulted to be removed from its S&P CNX Nifty 50-share index from January 12, as the Satyam Founder resigned from Board the shares of crashed down to 80 percent. And Anil Ambani-group firm Reliance Capital Ltd will be replacing Satyam in the main index, the exchange said in a statement. Satyam will also be excluded from the CNX 100 index, CNX 500 index and the CNX IT index.

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Unedited CEO's letter to employees

Ram Mynampati the CEO of Satyam Computers wrote a letter to employees to stand together

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Satyam demanded for apology from World Bank

India's fourth largest Software Company Satyam Computer Services has demanded apology and to withdraw the statements and harm done to the company by world Bank. But World Bank has refused to apologise about the allegations which made earlier against the company.

A World Bank spokesman in Washington said that the Bank stands by the statement issued on its India website on 23rd December.

The Bank said that, "Satyam was declared ineligible for contracts for providing improper benefits to Bank staff and for failing to maintain documentation to support fees charged for its subcontractors." and also the shares in Satyam Software Services also fell down after the Bank said that it(satyam) was banned for 8 years from business.

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