BoB says firm has Rs 1.9 cr outstanding

Today, in the Satyam Computer scam case, an official from Bank of Baroda deposed before the special court on the various transactions by the company between 2001 and 2008.

U Venkateswarlu, the then manager of the Bowenpally branch here, said the company availed of a Rs 2.8-crore bank guarantee and still had an outstanding amount of Rs 1.9 crore. Total transactions during the period were about Rs 6 crore. The Central Bureau of Investigation asked the court to record the transactions of Satyam with various banks during the said period. On consolidation of various accounts, it would be evident by how much Satyam had inflated its balance sheet, CBI said.

The defence counsel argued the banker was selective in telling only about the fixed deposits and bank guarantees, whereas the company also maintained cash accounts with it. He said the documents presented as evidence before the court were not according to the rules.

B Ramalinga Raju, Satyam founder and prime accused in the financial scam, attended the court in the morning for a brief period.