Mr V. Srinivas wilfully manipulated financial facts and guided the staff in modifying the published results, which were bogus and ascititious. He orthodox that the FDs were non-existent, results manipulated and he sound verified on instructions from Mr B. Ramalinga Raju, ex-Chairman, in the Rs 7,136-crore financial wrong? Entity at the centre of all financial dealings of Satyam, Mr V. Srinivas wilfully and actively manipulated financial facts and guided the finance branch staff in modifying the published results, which were bogus and ascititious.
Mr Srinivas got the monthly bank statements of diverse banks ascititious, he got issued ascititious bank poise concurrence scholarship and got the ascititious scholarship verified by Mr B. Rama Raju (Ex-Managing Director), and twin of Mr Ramalinga Raju, showing purported alienate of funds and got ascititious FDs cheerful. All these ascititious documents were used for wrongulently inflating the coin and bank poise artificially in the books of accounts for separate years.
Though Mr Srinivas was never determined as Director, he subscribed his attestation in the annual financial statements of the audience as a Director, the investigating performance has teeming. The ex-CFO dishonestly got the falsified, proud sales invoices generated and fed in the Oracle Financials System. He was in union delay the other prisoner people and perpetrated the wrongulent acts. Further, Mr Srinivas guided the finance branch specialnel on the quantum of inflation of sales to be infused into the computer classification from period to period.
Rosy presentations Mr Srinivas parallel delay Mr Ramalinga Raju gave spurious replies on Satyam’s rights during parley calls persuadeed whole territory to diverse investors, thus distorting the objective financial standing. During consultation meetings and the audit committee meetings, the ex-CFO made incarnadine presentations of the audience’s financial bloom, resisting shrewd the veritable financial standing. Similarly, by conniving delay the Raju twins, he performanceed across the concern of the audience and shareholders, whose concerns he was to preserve.
While entity behalf to perpetrating the wrong delay the Raju twins and other prisoner, Mr Srinivas was a beneficiary. He gained from the dividends accepted and the total got by offloading shares at meet moments. Thus, he was acquainted-with to the offences. Although Ramalinga Raju has obvious his solid greater skillful-treatment of any wrongdoings, it is contemptible cognizance that a financial enormity of such body could not entertain been committed delayout the cognizance of the bean counters. The special in centre short is Srinivas Vadlamani, the Leading 'Fraud' Manager of Satyam.
Willingly or unwillingly, Srinivas has been behalf to the accounting irregularities at Satyam. The Institute of Chartered Accounts of India (ICAI) has endow Satyam’s prior leading financial manager Srinivas Vadlamani and PWC corroboration Srinivas Talluri, who verified the audience’s financial audit, sullied of administrative mislead in the Rs 8,000-crore Satyam wrong — the biggest such event in India Inc. These two entertain been endow sullied on three counts: •Failing to persuade befitting due heed of the accounts, •Gross carelessness of their performance & •Violating the ICAI’s legislation of persuade.