Three more arrests in Satyam case

The Central Bureau of Investigation (CBI), probing the Satyam fraud case, arrested the IT firm's Vice-President (Finance) G Ramakrishna and two other employees on last night.

According to CBI Deputy Director General V V Lakshmi Narayana, the arrested employees were involved in preparing fake monthly bank statements and other documents. The other two employees arrested were D Venkatapathi Raju and Srisailam, who were also working in the finance department. "These are the first arrests made by the CBI in Satyam case," Narayana told Business Standard adding that the investigating agency was preparing to file a charge sheet in the case on April 9.

Earlier, the Andhra Pradesh Crime Investigation Department had arrested six persons, including Satyam founder B Ramalinga Raju, his brother Rama Raju, former chief financial officer Srinivas Vadlamani, SRSR Advisory Services general manager Gopalakrishnam Raju and Price Waterhouse auditors S Gopalkrishnan and Srinivas Talluri.

During the questioning by a three-member high power committee of the Institute of Chartered Accountants of India headed by the institute's president Uttam Prakash Agarwal. On Sunday, Vadlamani Srinivas was stated to have mentioned the name of G Ramakrishna.