CBI compiling information on company's expenditure

The Central Bureau of Investigation (CBI), which is probing the Satyam Computer Services fraud case, is compiling all the information pertaining to expenditure incurred by the Hyderabad-based IT firm between 2001 and January 2009.

“We are compiling and analysing every transaction made by the company during this period,” a CBI official, who is engaged in the investigation, told Business Standard.

The current exercise is aimed at finding out whether the promoters of the company had siphoned off funds from the IT firm. As the Satyam founder B Ramalinga Raju and his close aides inflated the revenues of the company by creating false invoices, the CBI feels that it also has to find out whether they have done a similar thing on the expenditure front.

According to the CBI official, the investigation agency would file a supplementary chargesheet against the accused if it found any evidence to this effect.

The charges levelled by the CBI’s Multi-Disciplinary Investigation Team (MDIT), in the chargesheet filed on April 7, pertained to conspiracy, cheating, forgery, falsification of records and causing disappearance of evidence. There was no charge of misappropriation of funds.