Hyderabad: The ongoing trial in the Satyam scam, the country’s biggest corporate fraud, is set to enter a key phase on Monday when the court would start recording the statements of investigation officers who went into the details of the scam that broke out in January 2009.
The CB-CID initially investigated the case after which it was entrusted to a multi-disciplinary investigation team headed by the CBI. Three CID inspectors and 11 officials from the CBI would depose before the trial court in the next one week. The accused, led by the company’s disgraced chairman B Ramalinga Raju, may cross examine them. After this phase, the court, in accordance with the provisions of Section 313 of the CrPC, would question all the accused in the case about the evidence that came to the fore during the depositions of the witnesses.
Then, it would be the turn of the defence team. So far, the accused have played their cards close to the chest and in the next few days their strategy to counter the case put forward by the CBI may unfold, legal sources said. Though the details about Raju’s foreign accounts have not yet been ascertained, this would not hamper the progress of the main case, the sources held.
The CBI had sent letters rogatory (LRs) to six countries seeking details about Raju’s foreign transactions, the results of which are still awaited. According to CBI sources, the agency would file a separate chargesheet in the event of any useful information forthcoming from the foreign transactions of the company. “However, the receipt of such information or non receipt of the same would have no bearing on the current trial as we have made out sufficient case by now,” one official said.
The CBI had earlier sent LRs through the judiciary to the British Virgin Islands, Mauritius, Singapore, US, Belgium and UK seeking the assistance of the courts in those countries in recording the statements of some holders of foreign bank accounts in Satyam and convey the same to it. This exercise is aimed at getting to the root of the diversion of funds angle in the scam that is still a mystery. Mystery, because some of the countries which received these LRs had sought additional information about the persons to be examined. Though nothing concrete has come to the fore from these foreign accounts so far, no country has totally rejected them either. TOI