Satyam's former chairman B. Ramalinga Raju, could face a lie
detector test.
Ramalinga Raju
admitted he had falsely reported the company's results in
January. This left the company
short of cash, its customers short of confidence and staff moral
low.
According to reports in India, the Central Bureau of
Investigation has requested that he and two others take a lie
detector test to establish the true extent of the fraud.
The Hindustan Times reports that the Central Bureau of
Investigation (CBI) also wants B. Ramalinga Raju's brother, B. Rama
Raju, and former chief financial officer, Vadlamani Srinivas, to
undergo the test.
"We have applied for conducting a polygraph test on the trio in
a Hyderabad court as we feel more evidence is required," CBI
director Aswini Kumar said.
This could put doubts on the extent of the accounting fraud Raju
admitted to at the Indian IT services provider. The company is
currently
in the process of being sold and potential buyers will need to
know Satyam's true financial position.
Robert Morgan, consultant at Hamilton Bailey, believes western
firms will be put off by the fraud and its possible
repercussions.
"I cannot see an IBM or any other global supplier taking it
seriously. I think they would like to buy Satyam, but the
possibility of action from shareholders will stop any western
company buying it," said Robert Morgan.
Morgan believes Satyam will go to another Indian firm because
they are more used to how Satyam is run. "The Indian companies will
take it on trust because they are owned by families, rather than
shareholders."