The XIV additional chief metropolitan magistrate on Wednesday extended the judicial remand of Satyam Computer founder B Ramalinga Raju by another two weeks in the multi-crore accounting fraud at the IT outsourcing company.
The remand of seven other accused including his brother Rama Raju, former chief financial officer Srinivas Vadlamani, former auditors of Price Waterhouse S Gopalakrishna and Talluri Srinivas and three former employees of Satyam – vice-president (finance) G Ramakrishna, general manager (finance) D Venkatapati Raju and another executive in the finance department Srisailam – has also been extended by the Nampally court till August 19.
Ramalinga Raju and his brother were arrested by the Andhra Pradesh police on January 9, post the revelation by Raju that he had cooked the company’s books, while the former CFO was picked up the next day. The accused have been lodged in Chanchalguda central jail since then.
Meanwhile, the Central Bureau of Investigation's (CBI) appeal to subject Ramalinga Raju, Rama Raju and Srinivas Vadlamani to lie detector and brain mapping tests will come up for hearing at the Andhra Pradesh High Court on August 6.
I do not see a basis or reasoning for these remand extensions specifically for the auditors. For the main accused like Raju who have admitted their guilt, this pre-trial punishment is justified. So far from what we have heard in this case, the auditors claim their innocence. They claim that they have been taken for a ride by Raju just as millions of investors. If this case ever goes to trail and indeed the auditors are found innocent, who compensates for the misery and hardship they have been put to? The law in this case has squarely failed and a grave injustice has been done to the auditors. Contrary to the commonsense belief that one is innocent till proven guilty, these auditors are treated guilty till they get a chance to prove their innocence. This could happen to any other auditor or working professional in India . Where is the outcry from the fellow auditors or other working professionals? Please stand up and let your voices be heard!
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