Arrest Satyam chief, take penal action against PwC -CPI(M)
The CPI(M) asked the government to immediately take into custody B
Ramalinga Raju, who has resigned as Satyam Computer Chairman, on account
of his admission of guilt in the Rs 7,800 crore scam, saying such frauds
had been encouraged by deregulation and liberalisation.
Seeking penal action against Satyam’s auditors,
PricewaterhouseCoopers (PwC), the party said the “shocking revelation”
about the scandal by Raju shows that “Indian big business has started
emulating the worst corrupt practices of their counterparts in the
advanced capitalist countries, especially the US.”
Equating it with the 2001 Enron scandal in the US, it said the former
Enron CEO was currently serving a 24-year prison term in the US and
Enron’s accounting firm Arthur Andersen had to be dissolved for its
complicity in the scam.
In a statement from Kochi, where the party’s Central Committee is
meeting now, the CPI(M) demanded that the government “take suo motu
cognizance of the admission of guilt by the Satyam Chairman and take him
into custody.
“The concerned Directors in the Satyam Board and the audit firm PwC
must also be held accountable for the gigantic fraud and strict penal
action be initiated against them,” the party said.
The party said, “the PwC partners were earlier indicted with
fraudulent accounting” after the collapse of the Global Trust Bank.
PTI
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