CBI Arrests Mahindra Satyam for Fabricating Books of Accounts

Mahindra Satyam (erstwhile Satyam Computers) was today (21st Nov’09) arrested by Central Bureau of Investigation on charges of fabricating books of accounts of Satyam Computers and conspiring with other co- accused to defraud the computer giant. Gupta was later produced in court and was remanded to judicial custody till 26th November. Gupta held the same position in the parent company. The arrest came after the CBI team, which went to Mauritius for investigating certain bank details, returned with concrete evidence of financial manipulations by rerouting funds- that were earlier diverted to Mauritius- back to India to fictitious firms set up by the accused. CBI is now preparing to file a second charge sheet in the case.