A local court trying over the case of the big accounting fraud in the case of the Satyam Computers is likely to announce the judgement date on October 30, 2014.
An order has been made that all the accused more than 10 in no. which includes the top management, the auditors and other top executive employees shall appear before the court on the date of the hearing.
The scam had been embarked as the country’s biggest accounting fraud for manipulating the books of accounts, window dressing of the financial statements which had defraud most of the shareholders holding more than Rs. 14,000 crores in value.
The case is all about the cheating on the investors, breach of trust, inflating the profits by cooking the books, faking the fixed assets and all the accused have been charged with all these charges and various other relevant charges under the Indian Penal Code and violation of the I-T Laws.
This fraud had made all the investors very diligent in dealing in the buying and selling of the securities in the market and had been made aware of the various investor protection measures which play as a very important rile in the protection of the investor and the huge sums of money placed in the form of investments by the investor.
Once the verdict is declared then it will urge the other corporate houses to be diligent enough and not to indulge themselves in the defrauding practices which shall not present a true and fair picture of the financial position to the investors of the Company.
