The CBI today registered a case against Satyam's tainted founder B Ramalinga Raju and others for their alleged involvement in what it called a unique accounting fraud at the IT company, and formed a 16-member team to complete the probe at the earliest.

Describing the scam as "unique," a CBI spokesman said the case has been registered against Raju, the company's erstwhile directors and its auditor under various sections of the Indian Penal Code relating to forgery and cheating.

The case against them was registered under 120-B (criminal conspiracy), 409 (criminal breach of trust), 420 (cheating), 467 and 468 (forgery), 471 (using forged document as genuine), 477-A (falsification of accounts).
 
Superintendent of Police of the CBI at Hyderabad will be the Chief Investigating Officer. Apart from these officers, MDIT will consist of a Superintendent of Police, Bank Securities and Fraud Cell (BSFC) and 11 other officers of CBI.
 
An Assistant General Manager of the SBI (CBI's technical officer, will also be part of this team, the spokesman said.
 
Besides Raju, his brother Rama Raju, Chief Financial Officer Srinivas Vadlamani, G Gopalakrishnan and Srinivas Talluri have been arrested in the case.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Wall Street up on Greece, but gains seen limited - FII-TO-FII: Pantaloon traded at 7% premium - Civic polls: Saffron alliance retains Mumbai, Thane - MCX awaits trading rules in commodity options, indices - Govt to provide incentives for electronic chip manufacturing

Tags : CBI | Satyam Computer | Ramalinga Raju | Fraud | SFIO | Price Waterhouse | IPC | SBI | Rama Raju | Srinivas Vadlamani | G Gopalakrishnan | Srinivas Talluri | Maytas   Read Business news in  Advertisements -  Now property search gets more exciting than ever before! -  High Growth Business Opportunities in Africa - Register to explore -  Medium-sized businesses are the engines of a smarter planet. -  Save over Rs.3000 with IndianOil Citibank Card -  India's No. 1 Property Site. Click here to know more.. -  Get 5% cashback on telephone bills with Citi -  Diseases earlier, Saving Costs, Extending Lives. Know More.. -  Enjoy the journey as much as the destination. click to know more.. -  Exim Bank Conclave on India - Africa Project Partnership. Know more.. -  Creating Wealth made simple the SIP way. Know more.. -  Only Developer to give a guarantee on time space & rate. -  Office 365 for professionals and small businesses. -  Buy Your Property with Our Triple Guarantee in India. -  Improve Patient Care & Experience. Click here to know more -  Win a Business Class Ticket to Europe..Know more.. -   Introduce a New Automotive Luxury Car.. know more