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- 1. DEEPAK MITTAL DHeeRAJ SINGLA
MANOJ JANGIRSHASHI KANT
2. MANAGING DIRECTOR
NEW VICE CHAIRMEN & MANAGING DIRECTOR
EX MANAGING DIRECTOR
ULHAS N. YARGOP
On 7 January 2009, companys previous Chairman RamalingaRaju resigned after notifying board members and the Securities and Exchange Board of India (SEBI) that Satyam's accounts had been falsified
Raju confessed that Satyam's balance sheet of 30 September 2008 contained:
Inflated figures for cash and bank balances of Rs5,040 crore (US$1.04 billion) (as against Rs5,361 crore (US$1.1 billion) crore reflected in the books).
An accrued interest of Rs.376 crore (US$ 77.46 million) which was non-existent.
An understated liability of Rs.1,230 crore (US$253.38 million) on account of funds was arrangedby himself.
An overstated debtors' position of Rs.490 crore (US$100.94 million) (as against Rs.2,651 crore (US$546.11 million) in the books).
Raju claimed in the same letter that neither he nor the managing director had benefited financially from the inflated revenues.
He claimed that none of the board members had any knowledge of the situation in which the company was placed
6. ACTUAL DEBT WAS 2161
OVERSTATED 490 CR.
ACTUAL CASH IN BANK WAS321 INFLATED5040 CR.
NO ACCRUED INTEREST 376.34 CR.
UNDERSTATED LIABILITY 1230 Cr.Which was ARRANGED BY MR.RAJU
ARTIFICIALLY ADDED 588 OPERATING PROFIT ADDED 588
INCREASING THE CASH RESERVE ONLY FOR Q2 ALONE TO 588
8. SATYAM SCAM: SO HE IS TO BLAME`
- Who is guilty in this sordid state of events?
9. But there were others who are also culpable.