Satyam story – Actual Inflated 27,167 crore in 7Years…
According to sources in the Serious Fraud Investigation Office (SFIO), the agency probing into the Satyam scam, the IT company’s offshore exports were inflated by over Rs 4500 crore over a period of seven years. Further, foreign currency of Rs 1,940 crore from exports over six years was not remitted to India. Sources say the company inflated books by Rs 27,167 crore between financial year 2001 and September 2008. The inflation was done by falsifying cash, bank balances and fictitious fixed deposits (FDs). Adding to this, inflation was done by understating liabilities and overstating debtors
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