ICAI to frame charges against Satyam's ex-CFO

| Updated on: Jan 25, 2011

The Institute of Chartered Accountants (ICAI) has found former CFO of Satyam Computer Services Ltd, Mr V. Srinivas and internal auditor Mr V. Prabhakar Gupta ‘guilty' in the Rs 7,136-crore financial fraud.

“The ICAI is in the process of framing charges on these two-employee auditors of scam-hit Satyam,” Mr G. Ramaswamy, Vice-President, ICAI, told newspersons on the sidelines of the International Taxation Conference organised by ICAI here on Monday.

To hasten the trial, the International Taxation Committee of ICAI (which looks into disciplinary matters) had decided to hold all disciplinary meetings relating to the scam in Hyderabad.

This move arises from the recent allegations by the accused that they could not travel to Delhi due to a CBI order. Accordingly, the next hearing on the scam is expected to be held in the third week of February, he said.

Earlier, while addressing the delegates of the conference, Mr Amarjit Chopra, President, ICAI, said the institute had hosted the names of 127 of its members who were found guilty of misconduct and involved in various cases on their Web site.

However, the number of members with ‘questionable' record could go up to 175, he added.

Published on January 25, 2011

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