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13,000 Satyam staff never existed, says prosecutor

Investigations into a $1bn accounting fraud at Indian IT supplier Satyam have revealed that the firm has 13,000 less staff than it actually thought. During...

Investigations into a $1bn accounting fraud at Indian IT supplier Satyam have revealed that the firm has 13,000 less staff than it actually thought.

During a court hearing for former Satyam chairman B Ramalinga Raju, who was arrested in relation to the accounting fraud, assistant prosecutor Ajay Kumar told the court in India that the firm has less staff than the 53,000 it claimed.

Raju admitted that he had fiddled the company's books for several years. The revelation came in a letter to the company last week, in which Raju offered his resignation and confessed to inflating the company's financial figures.

Satyam head of marketing Hari Thalapalli, who is the firm's former human resources chief, said, "Even now, we maintain that whatever we have known on our system is right.

"We will have to wait for clarity to come from the auditing."


More on Satyam:

Video: Satyam senior executives outline plans 9 January 2009

Opinion: Why the Satyam scandal will force a step change in global outsourcing 8 January 2009

Troubled Satyam needs cash 8 January 2009

Satyam chief B Ramalinga Raju admits to fixing the outsourcer's books 7 January 2009

Satyam message to stakeholders via YouTube following fraud scandal 7 January 2009

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