• Yes. Raju will come out soon. There was a time Co. M.D's are afraid of Chartered Accountants and Auditors. Now the things are reversed. Chartered Accountants and Auditors are afraid of M.D's and Chairmans, becoz they will be losing business. From today's Chartered Accountants point of view business is more important than honesty and detecting the fraud. Answered by Sampathkumar Srinivasan , CONSULTANT at R.R.TRANSPORT, SURAKSHIT EXPRESS RELOCATIONS, TASHKENT ADVERTISING | 07, Mar 2010 08:43 PM

Comments (2)

• it is very easy to develop a view on a community, however, views with specific examples will strength the case................... Commented by Shreyans Ravrani, Manager Assurance and Advisory at Ernst & Young | 1 day ago
• it is very easy to develop a view on a community, however, views with specific examples will strength the case................... Commented by Shreyans Ravrani, Manager Assurance and Advisory at Ernst & Young | 1 day ago

• Hmm, lot of people were surprised to this bail of auditor, some are criticizing system / government, some are expecting raju to come out soon, etc.
  The biggest cause of worry in india is short memory of people, where we forget things very soon and get tied in our life asap. in light of criminals freed on bail, released on lack of evidence, etc. this judgment of SC shouldn’t be surprising. Just to remind all, since more than 1 year of 26/11, we are still trying that person in court to prove him guilty of killing people, which was evident from TV footages, every day that guy comes with some other funny arguments and we give a patient hearing to him & counter it by gathering evidence against it.
  Do anyone remembers who many ...See More high profiled criminals were ever punished and if yes, how many of them have completed their punishment. The only solution is non-stop and fastest hearing of cases with set timelines unless this kind of cases will stay alive in discussion forums only. Answered by Shreyans Ravrani , Manager Assurance and Advisory at Ernst & Young | 01, Mar 2010 11:28 AM

• I do not remember a case where a CA is jailed for certifying accounts which turned out not to be true and fair. The jail term may be justified if it is proved that he has really made money out of it?
  
  I do not think the treatment meted out to CA Srinivas is fair if you compare the sins of Lalus, Sorens, Kodas, D. Rajas. When the law is different for them, why should not be Raju be freed? At least he has done great service to youth by providing thousands of jobs whereas these politicians make money for themselves and enjoying their life. When politicians with murder, looting public money and DA cases are either acquitted or on bail, why not Raju? Answered by Satchidananda Rath , Head-Internal Audit at Harrisons Malayalam Limited | 15, Feb 2010 05:54 PM

• The verdict of Highest Court of India may be respected coz everybody has faith in judiciary system. The highest regulatory body of CA profession has to do a lot to restore the faith of public in the profession. I feel the ICAI has the main instrumentality to control or say regulate and suggest measures to the low makers of the land. Let's be optimistic and advice to new committee to have some control but I think they will protect their member first.
  
  CA Pradeep Kumar Answered by CA Pradeep Kumar , Asstt. Manager (A/cs) at IFFCO Ltd. | 13, Feb 2010 10:05 PM

• Chances of Raju out on bail is more coz one of the most important issue in India is; the judicial system is very weak.
  
  Secondly corruption in India is deeply rooted right from the govt. babus to the higher officicals to the politicians, business tycoons etc.
  
  Combination of the above 2 makes it easier for the higher ups (rich) to come out clean chit inspite of doing wrong deeds, be it fraud, murder, accident etc. Answered by Kavita Hasan , Sr. Manager at MNC | 12, Feb 2010 06:13 PM

• 
  Hello Guys, Hold on for a moment. GE, the oldest corporate in world fudged their accounts and quickly corrected. The so called owners or CEO was not in jail. Neither their Auditors. Similarly, lot of other Companies did that, including HCL. However, there was a point, wherein, the AP State Government rulers made the Business almost impossible, which forced the business either closed down their operations or move out of AP.
  
  Coming down to the Legal Implications, there is no law, which is saying an Auditor should be jailed for their false report. And if you have to see what made Government put them in Jail, some blanket provisions in the law allowed them.
  ...See More
  Coming down to what is the danger, he can destroy the proofs. What non-sense, with such a great security, will he be able to do that?
  
  Coming down to his role, he became partner recently in PWC and signed JUST ONE YEAR, when fudging is going on from last 9 years.
  
  Dont get carried away with the Press.. as one of the press guy said, it is 90% guess work and 10% fact. and that 10% is from sports page.
  
  Being an Ex-Satyamite, I dont say, he is a saint, he is like any other entreprenuer, say like Nayer of HCL. But, his vision cannot be matched with any one else. Like 108, etc. Answered by Radha Krishna Komaragiri , Director Finance & HR at Tesync Technology Limited | 12, Feb 2010 11:32 AM

• Speciality of our country's legislative system, big offenders are released with reason of lack of evidence or released on bail at earliest possible opportunity whereas small offenders are kept behind bar for decades & released after 20-25 years after court order that they are not guilty. Answered by Mohan Gazinkar , Sr Manager at Wockhardt Ltd | 10, Feb 2010 10:40 PM

• THE PARADOX IN HE CONSTITUTION IS THAT FOR ECONOMIC OFFENCE THERE ARE NO HARSH PUNITIVE DETERANCES AND EVEN THE TORCH BEARERS OF SOCIETY IGNORE IT OR ELSE WYH AND HOW COULD SO MUCH OF TAX EVASIONS AND NON PAYMENTS OF HUGE BANK DUES GO WITHOUT IMPRISIONMENT Answered by chandra pathak , secretary at upmsra | 09, Feb 2010 10:36 AM

• Auditor T Srinivas was the auditor of the company. He issued the report based on evidences available at the time of audit. Usually auditors looks for Persuassive evidences rather than conclussive evidences. So he relied on the evidences available during the time of audit and issued report. but it is not in case of Pramoter ramalinga raju. He is guilty under companies act as he is involved in mismanagement which is prejudecial to the interest of the company and public interest which could have resulted in winding up. Answered by mrutyunjay kuravatti , Auditor at ABS & Co | 08, Feb 2010 01:25 PM

• In this nation where laws are interpreted and applied differently for the rich and the poor, Ramalinga Raju will be out of prison very soon. Answered by KSM SUNDARAM , GENERAL MANAGER INTERNAL AUDIT at VFS Global Services Private Limited | 08, Feb 2010 11:54 AM

• Auditor T Srinivas out on bail. OK, he has been granted bail by the count who must have gone by the merits of the case and he is out right now on bail, not that final judgement has been pronounced. Regarding Raju, same logic may be applied, and he also may get bail, so what? After all you have to respect our Judicial system and each accused has been given full rights to defend himself. Also Raju has conceded the fraud and who knows may be the court may be liberal to him seeing his contribution to the Indian economy (like the one in case of Shibu Soren, and see he is now the chief minister of Jharkhand), also Raju may have turned approver to govt departments and may have agreed to provide vital information on various types of such ...See More frauds happening in India and this would in long term be useful in further tighening of the laws so that Satyam type of case may not recur in future. Answered by Prabhakar Srivastava , Director at Indo Western Tradelinks Limited | 08, Feb 2010 11:22 AM

• Auditor T Srinivas shall stand as role model doing justice to his profession and being a member of 2nd largest Accounting Body in the world, ICAI, Secondly he being appointed as Auditor of Satyam company, one of the brand companies in the world. He has done injustice to his proffession, being influenced by Promoter Raju. He came out with some influenced personalities. He shall prove his Profession. Raju shall be given chance to set his business in fair manner and get back his credibility. this shall be a lesson for him and the similar other companies behind the walls. Answered by Chaganty Phanisripriya , Process Associate at Genpact (GECIS) | 07, Feb 2010 08:53 PM

• 
  Yes, of course. It is not at all difficult for him to get a bail.
  
  Further, I agree that Raju is not the only one who is guilty. Some Accounting Professionals are also part of the game.
  ...See MoreHowever, it is wrong to question the credibility of the Institution (meaning ICAI) or all of its members. There are thousands of listed companies. The cases like satyam fall under exceptions. I believe the reason why there are not so many satyams around is the honesty with which members of accounting profession are doing there job.
  
  Corruption is deep rooted and socially accepted. There are members in all the professions who want qucik bucks through unfair means (lawyers, judges, accountants, auditors, doctors, teachers etc.). However, questioning the credibility of the entire profession would be grossly wrong. Answered by Pawan Jain , Manager - Internal Audit & Risk Advisory at Protiviti | 07, Feb 2010 03:35 PM

• I am fully agree with Mr. Chandra shekhar Bhalla. When a politician can get a bail after his crime why can't a business man when he him self accept that he has done accounting fraud. In my opinion Mr. Raju should get a chance to start his new life. Answered by Ajay Jhanwar , Managar at Reliance Industries Ltd | 07, Feb 2010 12:46 AM

• 
  For Satyam failure, was Raju only responsible, what are level of charges against him, what level of offences he has committed. He was caught, so we are putting the blame on him.
  
  what about India's financial legistlative , ICAI, what the hell these certified public accountants and their apex institution has done in last 60 years. India's Accounting standards are design modified and implemented by this body of "educated, qualified, & Competant class" are they really deserve the status of public accountant.
  ...See More
  I am disappointed to say that, over 90% of financial frauds, misenterpretation of fianancial jargons have the vocal consent from this apex body"ICAI" and its executives.
  
  If we have a system to make this body "ICAI" accountable of public money, perhaps, we might hardly ever witness any fraud of serious nature. Answered by Ambrish Nigam , Zonal Head - BPO / KPO / PPP at Karvy Data Management Services Limited | 07, Feb 2010 12:17 AM

• when even a murderer comes out of bail, what is wrong in letting him out on bail.? Answered by brahamanapalle Murthy , Manager Internal Audit at Ashok Leyland Ltd | 06, Feb 2010 08:20 PM

• One great revolution India needs is judicial system overhaul.It will not be surprising that Raju not only gets out on Bail , but also use his money power and connections to delay the justice system till he takes his last breadth. Answered by P K , Taxation Officer at secret | 06, Feb 2010 07:12 PM

• Considering our outdated legal system all possibilities are there.
  Our legal system should be changed thru a consitutional amendment to give stringent punishment to these kind of fraudulent practiioners Answered by AG Ashok , Commercial; Planning at Top Ten Business Groups In India | 06, Feb 2010 07:07 PM

• yes Answered by deepak verma , accounts & finance executive at nexus minmet merchandising pvt.ltd. | 06, Feb 2010 06:32 PM

• obviously yes.
  As per company law like this offence he shall be punishable for each offence with imprisonment for a term which may extend to 6 months or Rs. 1000/-
  
  don't mistake the Indian government or laws even without being confirmed by the court Raju in jail for around 3 years.
  hence their could be possible to get bail amnesty! Answered by Venkata Ramana Reddy , proprietor at ramana reddy & co., | 06, Feb 2010 06:15 PM

• Certainly Mr raju will be out on Bail sooner .......Our Legal system is full of Flaws , its nt that much fairer as our constitution claims .
  I feel there is need to ponder over what can be done to bring the culprit at justice .. this is only one instance of our faulty legal framework . Answered by Utsav Jha , Assistant at RMA @AssociateS | 06, Feb 2010 04:08 PM

• Yes Ofcourse since all big shots got political influences - This is incredible India Answered by V P Narasimhan Narasimhan , Accounts Manager at Mats Engineering Pvt Ltd | 06, Feb 2010 03:31 PM

• I dont think Raju will be allowed to commit, the type of fraud he committed in future. Our Judicial system goes bye evidences, and if he cannot be booked under the evidences he may be set free. As a person who deals with stock, we have to be watchful before we invest in shares, we cannot completely blame the system & individuals- Let us first curb our greed to get too high returns- Thanks & Regds,
  Asokan Mannil Answered by Asokan Nair , Finance Manager at Pan Arabian Gourmet W.L.L | 06, Feb 2010 02:01 PM

• Yes. Keeping a person in jail is not a solution when he has accepted his fault. He should be given a chance to live a useful life again. Answered by Krishna Sahasrabudhe , Partner at Sahasrabudhe Paranjpe &co. | 06, Feb 2010 01:46 PM

• We are in India. Indian Laws doe have loop holes that enables culprits to escape easily. Answered by MOHANAN PURUSHOTHAMAN , GENERAL MANAGER - ACCOUNTS & ADMINISTRATION at NAWAZ GROUP OF COMPANIES, MARGAO,GOA. | 06, Feb 2010 01:08 PM

• Can't say. Any thing could happen. let us have a faith on indian law and keep ourselves on wait & watch policy. Answered by MOHAN VISHWANATH KEMKAR , Manager Finance & Accounts at span marine india pvt. ltd | 06, Feb 2010 12:27 PM

• In this turmoiling system we should not expect shomething really ethically to flow in as GIGO-garbage in garbage out. I have already stated 'a total failure of machinery' what else remains to think of except positive hopes which we must retain.
  Frauds and scams like SATYAM did happen in past, running in present and would happen too in future with different nomenaclature and complexities-we cant' get rid of them unless some drastical changes, concersion and transformation do take place to deal effectively our phsychology, attitude, professional calibre and performance parameters. Answered by Ashutosh Gupta , UFC at HT Media Ltd | 06, Feb 2010 11:38 AM

• Further the Business was operational and profitable thats why so many other companies bid for and Mahindra is able to bring out Profits.
  We should not destroy the people and minds but we should source the ways to avoid such to be repeated.
  Shekhar Answered by Chander Shekhar Bhalla , Group Financial Controller at SBR Group | 06, Feb 2010 11:37 AM

• 
  A question to all-is this a first fraud in the world? Has Mr. Raju pocketed the funds? Something that has been done we need to source the cause and find a future solution to the same. Holding a person behind the bars in not a solution? He should be given chance to come out and live again. Maay be this time he will do somthing better good which will beneficial for the society and people. Why do we forget Mr. Raju is one of the names who took India IT sector abroad.
  Today if Toyota can calling the defective cars back from the world market for faulty system than why we cannot give a chance to Mr. Raju. Will all stop buying Toyota car?
  ...See More
  According to me Mr. Raju is should be given a chance, our system is trying to hold a brain and a business mind behind the bars. for something which our system did not find but Mr. Raju himself declared about the same. How many people in the world have such courage to stand-up and accept for someting they have done what they should'nt have done.
  They should evaluate the damage from the same and give Mr. Raju a chance to replay for the sameand continue business.
  If punishing by putting behind the barts is only solution than Today Reliance industries or so many other big names will not be existing.
  Thanks
  
  Shekhar Answered by Chander Shekhar Bhalla , Group Financial Controller at SBR Group | 06, Feb 2010 11:25 AM

• Probably Yes Mr. Nair, I hope the same, there is no value in our social system, what you think? Answered by PUSHPARAJA CHAUTA , CFO at PANCHAMI VENTURES | 06, Feb 2010 11:21 AM

• 
  Yes there is a great lacunea in the corporate governance structure that we are having after loads and loads of debates, conferences and suggestion, its surprising that the regulators are yet to come up with any solution. Some of the practical can be :
  
  A separate pool of independent directors to be appointed by SEBI as per the needs/expertise required for the company
  ...See More
  SEBI should ask for explanation when the company's growth is more than 25% of the average growth in the industry or can also have a aystem of surprise audit of few select companies
  
  the meeting of independent directors with the statutory/internal auditors without the presence of management should be made compulsory
  
  In a growing economy efforts should be to clean up the systemic lacuneas at each step before it builds up as a heculean task to rectify. Answered by Monika Kalia , Asstt. Genral Manager & Company Secretary at Union Bank of India | 06, Feb 2010 11:21 AM

• Wow what a great news, after getting bail any one can do any thing becoz in democratic country every one wants to use law as mindpower game. Mr.Raju ( still i say MR.) can not make fraud individually. There will be full gang ( Top Executives, Market makers, FII, Politicians, MBA's, CA's, CS and so many...). Moral and ethics we ahve to learn in Mangement and Immoral and unethics we can learn in real life.
  
  Congratulation to Raju in advanced for getting bail Answered by Rajesh Shah , MANAGER ACCOUNTS at Marksans Pharma Limited | 06, Feb 2010 11:09 AM

• Yes,it seems so.The way this case is in progress we can very well see that none of the accused will get any sorts of punishment from the court of law. Answered by Bhaskar Sengupta | 06, Feb 2010 09:11 AM

• We know that all of them are not corrupt, but if those uncorrupt people are ineffective to protect the santity of the constitution and legislation, then very well can be said whole system is corrupt. Answered by Debasish Sen , Senior Associate Plateform at Sapient Corporation | 06, Feb 2010 08:33 AM

• Indian legal system is very weak..timeconsuming and ineffective. If you look at the past, many such frauds have gone scot free. If Raju also follows the same precedence... we should not surprised.
  
  Raju must be having comfortable stay in ,, and will continue when he is out. Answered by Pramod Raghavan , DGM at NMSEZ | 06, Feb 2010 08:31 AM

• Good old kind of question and topic but will try to answer in a bit different way. Is it judiciary, which is responsible or our law on which they work or can say made to work by some smart lawyers?
  
  If these is law and if we all know it, then it comes back to legislature and executive to change the constitution and plug such loopholes in our law and provide judiciary enough teeth....I will not deny that there may be few corrupt people around but i still trust there r more who r honest and ready to do anything just to satisfy their conscience and for society. Let us not only think the issue in piece meal and rather in totality..... Answered by Sandeep Sood , Head of Finance at Chellarams Plc | 06, Feb 2010 01:40 AM

• Off course. Mr Raju is next to get bail Answered by Prasad Parkhi , Commercial Manager at Khaitan Electricals Ltd | 06, Feb 2010 12:42 AM

• does not mean much!
  he desrerves to get bail! Answered by raja reddy chenepally , finanance functioning at gvpr engineers, hyderabad | 05, Feb 2010 11:58 PM

• thanx to our judiciary. they have granted bail after a year not next day of arrest. i dont think raju needs a bail, he is leaving his life like his own style. Answered by Sudhindra K , sudhi at ICICI Prudential Life Insurance Company | 05, Feb 2010 11:12 PM

• On reading all thatz written below , i have few doubts
  
  1) Does Bail mean a person is permanently aquitted of any crime.
  2) Dont we have faith in our Judicary System
  3) Is not law based on the evidence and facts .
  4) Don't the investor know, the risks he takes in investment in stocks.
  
  i have complete faith in Indian Democratic process,Judicary System and all the institution in this country. Lets not compare ourselves to other country or people, every house as a door, remember that. Answered by Rajaseker Kumaresan , Country Manager at Viva Entertainment | 05, Feb 2010 10:09 PM

• I expect Raju to be out soon. The Judicial System in India is becoming like a toothless lion. The imperial influence and unscrupulous elements are making it a mockery and obtaining bails and endless postponements resulting in undue delays in delivering justice. Answered by Soney Joseph , Finance Officer at Hindustan Aeronautics Limited | 05, Feb 2010 10:01 PM

• Yes, Mr. Raju should be released soon. He deserve it.
  He is a great businessman. We all are criticizing him. But i will appreciate his work. If that deal made successfully then...??? He has the grit to give new equations to IT sector and he tried for the same. But this is another thing that he was not succeed. At least he tried, It does matter.
  He made money for himself but made money for his employees and for the people of state also. We all consider what he has done wrong but we have to also consider the good part of Mr. Raju which is also admirable and remarkable.
  Mr. Raju GOD bless you. Answered by Kunal Makkar , SE at Birlasoft | 05, Feb 2010 09:41 PM

• No, Mr.Raju cannot get the bail, I have faith in Indian judiciary, Raju was not cought by any other agency but he himself confessed that he had done misappropriation. He was declared pauper by the US judiciary already, may be indian judiciary take longer time to punish Mr.Raju but he will not go out freely, Law will do its duty. Answered by Kunchum Balarama Kumar , BOSH-Business Operations & Services Head at ING Vysya Bank Ltd | 05, Feb 2010 08:15 PM

• Yes ! of course ! Financial offenders are ususally getting away in our country. Our Law and rules are for poor people only. Financially well and influential people are freed for doing more fraud. Answered by Hakimuddin Khilawala , Manager Finance at Alfa Corporation | 05, Feb 2010 08:11 PM

• Bail is only a relief to the mankind to live dignified life till crime is not prooved.. It is not a punishment. In Finance and economics related crime maximum punishment in India I have heard is 7 to 10 years in Imprisonment or death in Custody like Harshad mehta, or unbearable aliments which is much more than any sufferings. Mr. raju may not get either ot these. He is inffuential man. MERA BHARAT MAHAN Answered by Amrutlal D. Tank , Controller - Finance & Accounts at Manhattan Communication India Pvt. Ltd. | 05, Feb 2010 07:52 PM

• Yes. Raju will get bail within a very short period of time. In India every thing is possible by money and politics. And it is proved after the grant of bail to T Srinivas. Answered by George Moses | 05, Feb 2010 07:05 PM

• Definitely, the whole group will be out one by one. Our country is a gr8 country when it comes to treatment of scamsters who have the backing of the politicians and the bureaucrats. Unless our society shuns this group as an outcast I do not see any improvement. Answered by Ashok G Hiranandani , CFO at ABC Consolidated Pvt Limited | 05, Feb 2010 06:44 PM

• Off course. Mr Raju is next to get bail and re unite with his family.
  
  This is not new in Our country / society. We lack accountability and have poor memory / forgetfulness. We use to accept all the frauds and scams. Creators of scams /frauds are respectable members of our society (recall / remember since the days of Dr Teja to CA Bhansali)
  
  A few who are serious to duty and expose scam they do not get full support of society - making a big boon/ boost to scam esters. It is better if we as a society boycott every fraud esters then only we can able to check frauds and scams.
  
  thanks for reading my views, Answered by Dinesh Agarwal , Self Employed at Self Employed | 05, Feb 2010 06:32 PM

• Definitely... Raju has to come out on Bail.
  
  He has guts to do fraud. This fraud made him relatives of those who are in politics and high authority officials in Central and State Govt. (A Corrupt Society).
  
  How could they allow their relative to stay in Jail?
  
  I am damn sure he is living a royal life in jail. Answered by Abhijeet Velapure , Sr. Financial Analyst at Honeywell Automation India Ltd | 05, Feb 2010 05:52 PM

• Yes, they will be out in couple of months, due to our so called law takes too much time to give the judgement. Answered by Jethendranad Guntupalli , Sr. Accountant at NSCC INTERNATIONAL LTD., | 05, Feb 2010 05:21 PM

• It happens only in India. I am very sorry to say that in our country the laws are not strict. I will not be surprised that Raju also gets bail. Raju must be having patronage of some politician. Lets see, what happens to Raju Answered by Rakesh Sharma , Senior Manager Accounts & Finance at Jai Balaji Industries Ltd | 05, Feb 2010 05:16 PM

• Yes, certainly Raju and his other accomplice wil be out from the jail within next 6 months. Raju is mist likely to set ups his own IT firm and it may not be a surpirse that people will invest in that company. In Inida anything is possible. The audit firm will be exonerated certainly from the fraud giving scope for further frauds. The audit firm will have a last laugh. Answered by kodukula surya subrahmanyam , GM (F&A) at Greenko Energies Private Limited | 05, Feb 2010 05:16 PM

• Yes, it will definitely because every law made by the people for the people and to the people and all loop holes have been taken into the consideration by the all SHRI 420s. Now all we see very soon that Raju and all others will out soon and court case will pending for the long time and till decision out RAJU will the Millinior again and in between he and others will sale other their investments and shares of FAMILY members or cousin accounts and also the land bank amount invested in other companies. Now you will see those companies shares will also like falling knife soon. Raju is so clever person and in this whole story The Only Milinior is MR RAJU means SHREE 420 NO.01 and looser poor investors who lost their so harden money ...See More in satyam and aloso some gainers who made money in satyam. Thanks i will again give answers in this story. YOURS DEEPAK M VERMA, NAGPUR. PH.NO.09370775646 Answered by deepak verma , accounts & finance executive at nexus minmet merchandising pvt.ltd. | 05, Feb 2010 04:53 PM

• yes Answered by Santhosh Pai , SR. PARTNER at SVM ASSOCIATES, CA, CALICUT | 05, Feb 2010 04:49 PM

• In the US when Enron collapsed, it led to collapse of Arthur Andersen the worlds largest accounting firm then. It also led to the Sarbanes Oxley Act ... In India nothing will happen as the legal process here is in serious need of an overhaul. Everywhere there is corruption, rich and connected people even though guilty will walk free... we have made a joke of our democracy Answered by Mehul Sompura , Senior Manager at Virgin Records India Pvt Ltd | 05, Feb 2010 04:23 PM

• Yes,of course, it goes without saying.The auditors know all the loopholes that law cannot enforce.Hence Raju will be out within no time. It is indeed surprising that raju was in jail for so long.Knowing the Indian legal system very well one can expect no surprises
  . Answered by Revathi Iyer , Asst Professor,Finance at management college | 05, Feb 2010 04:17 PM

• This is really funny. This has to change. Guilty & co guilty to be punished severely so that in future no one will dare to even think on this line.This shows that u can run away with the fraud that u do. This incidence of Raju is like a intentional frau.
  Law needs to be stricter. Answered by Milind Phatak , Finance Manager at Peninsula Land Ltd | 05, Feb 2010 04:12 PM

• It only seems that someone must be laughing at all of us saying..."what are these guys talking about a bail to an Auditor, when key beneficiaries like I, have not been filed an FIR even...".....India Shining. I hope the media will someday look deeper in this case...in bringing all to justice...faster. Answered by CV Ramanan , CEO at Ladder consultancy services pvt ltd | 05, Feb 2010 03:59 PM

• Obviously it will happen because they are in same boat in sail, not only that if thay(T Srinivas) leave in there is custardy he will no use for taken parole. Fortunately they are republic India Jaihind. Answered by Ajay prasad , Finance officer at Sistema Shyam Teleservices Limited | 05, Feb 2010 03:50 PM

• Yes, next is Raju since precedence is set. In my opinion huge penalties has to be charged on accusts so as to warn people who has such intenses. Answered by Madhu Sekar , Accounts Manager at IHD Industries Private Ltd | 05, Feb 2010 03:44 PM

• Hope Sr & Jr Rajus also may get the bail. Answered by Nagendra Kumar T V V , MANAGER at ICSA India Limited | 05, Feb 2010 03:34 PM

• This is very serious news. There is lots of delay in the filling of charge sheet. If the accounting evidences are not enough then for what all are waiting? There should be a very fast process. But alas! who cares for whom? The country is heading towards what? This is a very serious poser I am putting before you all. Answered by Dinesh Shah , Partner at Shah Mehta & Bakshi | 05, Feb 2010 03:13 PM

• Professionals, hired,contracted or consulted for the action of Principal and subsequently its noticed that a fraud as occurred,although the Professional as given advise in best knowledge and belief and in accordance with the law. should not and cannot be construted as the main beneficary of the acts. unless proved other wise.
  If the professional are to be responsible for all acts of Principals , which is something that cannot be practical, we all are guilty of one act or other.
  
  Hence , the Bail is justified and does not mean the principal is not guilty of the acts and will be set free.
  
  Is professionals, an underwriter to the acts of the principals employing them ? Answered by Rajaseker Kumaresan , Country Manager at Viva Entertainment | 05, Feb 2010 02:59 PM

• i will not be surprised if Raju is realeased on bail,or lack of evidence, or even if he turns out into a approver for the investigating agencies,this is because our judiciary system has lost faith ,in a country where incidences of execution of criminals such as Afzal Guru are kept pending for years ,anything can happen............. Answered by nitin hapse , ACCOUNTS (HOD) at LUNKAD PROPERTIES | 05, Feb 2010 02:52 PM

• It's not new thing-quite common now a days in the absence of appropriate machinery to act for suppression of economic, fiscal offenses either the constituents of this machinery are lacking with their tools or the attitude. More so because the persons who carry out the responsibility of smelling such frauds and to detect as well as to deal with them effectively/appropriately under the prescribed ethics and professional conducts are themselves involved in this nexus deliberately or sometimes due to careless attitude too. Therefore, a total failure or collapse of machinery.
  We always attempt to approach the judiciary for the required redressals but failing in our prime duties whether as professionals, executors or custodian to ...See More the laid down systems. Judiciary is therefore, overburdened and time lag becomes wider and wider to dilute the sensitivity, ofcourse the saying-justice delayed is justice denied comes into operation BUT real catch is WHO ARE PRIMARY RESPONSIBLES to land up us again and again on such crisis.
  Obviously AUDITORS do carry the prime responsibility but there are OTHERS too who are equally responsible whether the regulators, law makers, professional body, institutes, polticians, Govt. and Admin. authorities, etc., etc.-all are failing to protect and safeguard the real interest of stakeholders.
  We are optimistic and thus carry the hopes of positive outcomes in the near future but that is subjected to the genuine admittance and realisation of duties and responsibilties and their effective performance in the interest of common man as well as stakeholders at large. Answered by Ashutosh Gupta , UFC at HT Media Ltd | 05, Feb 2010 02:44 PM

• Yes, in a Country like India,. it does happen usually only to bluf the people for sometime he has been kept under some sort of enquiry, when people starts to forget the issue, day -by-day the issue gets closed, he also will be left on bail Answered by keerthi venkata vijaya kumar , executive accounts at FIREPRO SYSTEMS | 05, Feb 2010 02:36 PM

• Raghab, you know in our country money and power grants bail. Is this has to be established with facts and figures ? Raju will get bail sooner rather than later. Answered by Sidhartha Prusty , Internal Auditor at Indian Metals & Ferro Alloys Limited | 05, Feb 2010 02:35 PM

• Yes I think, chance is there, Raju will get bail within very short period of time. In India every thing is possible. And it is proved after bail of T Srinivas. Answered by PRASENJIT CHAUDHURI , Junior Accountant cum fund Administration Coordinator at SRD Cell, WBSRDA, A Govt Department in W.B. of Panchyat and Rural Development | 05, Feb 2010 02:25 PM

• It is not new in India that frauds go unpunished. As the punishment is too less people continue to commit frauds. Look at Enron scam. The culprits are already in jail undergoing their punishment. Unless the punishments are harsh, the crime will not reduce. We Indians will not follow rules unless somebody punishes us for breaking them. Answered by Rajendra Modak , Chief Accountant at Abdulla Ahmed Nass Group, Bahrain | 05, Feb 2010 01:49 PM

• "once a fraudster always a fraudster. " Letting loose the fraudstr to open skies is inviting a more serious and well engineered fraud this time Answered by B Nanda Kumar Reddy , dgm(f) at ntpc | 05, Feb 2010 01:44 PM

• Let us have faith in our judiciary system irrespective of the outcome. I strongly feel the mehanism is not that loose to bailsomeone out without valid ground. And bailing is afterall not something like the final judgement, the outcome is yet to follow. However, I am of the opinion that the CA institute should have take stringent measures in controlling such instances. Answered by Manoj Panda , Head Commercial at Anchor Health & Beauty Care Pvt. Ltd | 05, Feb 2010 01:41 PM

• Yes in India everything is possible.Raju may come out in the next six months. Answered by Srinivasa Rao Koduru , SR. FINANCIAL ACCOUNTANT at Qatar Steel | 05, Feb 2010 01:20 PM

• It will not be surprising if he comes out on bail. In India if you have money and clout you can even get away with murder. So whats the big deal if a financial fraudster comes out on bail.
  
  Top to bottom the entire system is corrupt. The only person who can raise his voice is the common man but in the present situation he has also become materialistic and cannot see beyond himself. Answered by Raju B , Not Working at Not Working | 05, Feb 2010 01:12 PM

• Yes I think he will out within six months Answered by SUNIL JONDHALE , commercial Manager at Vigel manufacturing technoloies Pvt ltd | 05, Feb 2010 01:09 PM

• Best part of Democracy is that it get mature over the time. One of the important indicator whether it is mature enough is that through it's judicial system. If judicial system able to convict any criminal irespective stature, then we can say we have democracy. Answered by Debasish Sen , Senior Associate Plateform at Sapient Corporation | 05, Feb 2010 01:08 PM

• Yes, All criminals in parliament why Raju in jail? Answered by Anup Pandey , Sr.Executive Accounts at Accel Frontline Limited | 05, Feb 2010 01:06 PM

• Why not ? When Kasab could go to Pakistan after killing so many people in our country why not Raju who had given wages without emplyment . Who knows how many people he trained in jail to become rich -like fast food quick wealth Answered by Subramanian Iyer , Practising cost accountant at retired | 05, Feb 2010 01:02 PM

• Look ,getting bail and getting release from Judicial system is not same. The person who was supposed to be watch dog but not a blood hound could not do his job and hence less crime than Raju who is a thief/praun . CA institite will take action in due course what is permissible within its limitation. Raju has lost his crown , honour . Only left money which will also go in near future by the act of god if not by judicial system. Answered by Mihir Kali Bhattacharya , Regional Finance Manager at Likusasa Eng & Contracting Ltd | 05, Feb 2010 12:59 PM

• GETTING BAIL IS ONLY A TEMPERORY RELIEF TO THE ACCUSED. CONVICTION BY COURT IS MORE IMPORTANT. Answered by Santhosh Pai , SR. PARTNER at SVM ASSOCIATES, CA, CALICUT | 05, Feb 2010 12:57 PM

• yes.............. it is possibe.............if one can get the bail from the work which is illegal then other also ........ Answered by Harsh Chugh , Accountant at Ajay Khanna & co. | 05, Feb 2010 12:54 PM

• CERTAINLY YES.
  WHAT ABOUT CA GOPALAKRISHNA? Answered by Santhosh Pai , SR. PARTNER at SVM ASSOCIATES, CA, CALICUT | 05, Feb 2010 12:53 PM

• If the supreme court had judged that Mr T Srinivas has to be given bail they must have some valid reason by the indian law. i do not think i can say whether this is logical or not without knowing the fact on the ground the bail is given to him. I am sure Mr Raju will also get the bail soon on the similar ground. My be thiis step by the court is to bail out Raju.
  Any how this is not a big surprise, when we have our ministers in the Govt who are big time noted cirminals and their cases are still hainging with CBI and some of the courts in India. These culprints are still outside cheating the public and making their fortune. Answered by RANGANATH PR , GM - CUSTOMER ADMINISTRATION at Xerox India Limited | 05, Feb 2010 12:45 PM

• It is not so easy to come out but he will become old. His wanted to make money for his family which he achieved. Our judicial system let us not comment but what about CA institute action against the auditor? Institute too will take shelter under this ?
  It is pity in our country every criminal enjoy their life including terrorist Kasab. Answered by Subramanian Iyer , Practising cost accountant at retired | 05, Feb 2010 12:44 PM

• Yes Raju should get the bail even he has confessed to have falsified the Accoutns. only the person can not do this gaint swidle and scam if the Auditor has got bail then why not Raju?our Indian Law is impartial and we must respect the Law .if one accused of same case has got bail then Raju should also get the Bail because the seriousness of the swindle and offence is equal for Auditor and Chairmen. Answered by Saurabh Sharma , Accounts executive at Magma Fincorp Limited | 05, Feb 2010 12:39 PM

• It is unfortunate in our judisiary system, that this type of culprit goes on bail and when the case comes to it's final stage it will take minimum 20-25 years and most of accused die.So it is not impossible that Raju not only release on bail may free from that case. Answered by Jyoti prakash Dash , Junior accountant at WESCO Distribution | 05, Feb 2010 12:33 PM

• yes that is the way the wheels of justice work in India. In any other country their punishment would have been handed over by now Answered by Kirity Purkayastha , Senior Manager at Techbooks International Pvt Ltd | 05, Feb 2010 12:27 PM

• Off course, he will come out. He has not committed any murder, he just utilised the loop hole in the system. Answered by Ramanathan Ganesh Kumar , Sr. Manager (Finance & Accounts) at MERU Cab Company Pvt Ltd | 05, Feb 2010 12:27 PM

• I respect India's judicial system and the truth will be out sooner or later. Answered by Shankar Sundaram , Senior Manager at IDEA Cellular Ltd | 05, Feb 2010 12:18 PM

• Auditor has been granted bail based on argument that all the info has been acquired by CBI as far as auditors are concerned, I also feel that the view point taken by court is approriate but as far as Raju is concerned he is a main culprit and it may be difficult for him to get the bail.You can't say it depends upon the counsel and the court. Answered by AMREEK SANDHU , CFO & Company Secretary at Spectrum Power Generation Limited | 05, Feb 2010 12:16 PM

• I am surprised to read this news today. How can largest decision making authority in the Country can give bail to a person who was responsible for the biggest Corporate Fraud. It will defintely give a wrong message to the Corporate World. Answered by Anand Dhoot , FINANCE CONTROLLER at Hindustan Construction Co. Ltd. | 05, Feb 2010 12:16 PM

• Yes its unfortunate, but we know our legal system is so weak that even a person who has found guilty also can come out of jail like our own sanjay dutt. At the same time we should first ban CA institute they will never take the responsibility for their action. you will observe this when you read their audit report. Answered by NAGARAJA NAGULA , Dy.Company Secretary at Deccan Chronicle Holdings Ltd | 05, Feb 2010 12:13 PM

• Yes soon he will be out. you know the system in india Answered by Dinesh Kumar , Commercial Executive at Vodafone Essar Ltd | 05, Feb 2010 12:12 PM

• The majority of the people have responded in the affirmative and that is the answer to this question because today there is so much of collusion between power and money that nothing happens to people who have this deadly combination-they get away with murder!
  And all us the educated,qualified people sit on the sidelines and watch! Answered by esha guha , Sr.Vice President at Concept Communication | 05, Feb 2010 12:04 PM

• yes your are right sir, it the time to re thinking by the govt for future Answered by Sanjeev Malhotra , Sr.Accountant at Gili india Ltd | 05, Feb 2010 11:54 AM

• The sins perpetrated by these guys against ordinaray investors of this land should not go unpunished. Every effort should be made to apprise the Supreme Court about these overwhelming feelings of the stakeholders of erstwhile Satyam. Answered by narayanan nagarajan , Cost Accountant at Cost Accountant | 05, Feb 2010 11:50 AM

• Well at the moment very busy, but a general comment that these people were very much sure they would be out and even if they were in jail am very much sure would have got VIP treatment. As usual the common man investor is effected. Rich people are getting richer by day & poor people dont mind staying below the poverty line Answered by Shalini Mangle , Senior Accountant at ventours International Travel Pvt.Ltd. | 05, Feb 2010 11:49 AM

• Why not? I think Raju should also get bail.In our country we should not discuss about these type of issues. If political leaders and ministers can get bail for any offence then why not Raju? If a person can become MP from jail then what is the problem in Raju's bail? I believe that your question can be answered by another simple question only-Do anybody believe that any political leader or Minister is not involved in this scam? If 'No',then what about them? Why we are wasting our time thinking only about Raju? Answered by kaushik muhuri , branch head at SBI Life Insurance Company Ltd | 05, Feb 2010 11:48 AM

• Unfortunately YES, thats the reason why Raju preferred to stay in India rather than being screened in US. In US criminals are punished irrespective of there status, caste, creed. Raju is safe in INDIA, as he knows INDIAN's have a short time memory loss problem. Answered by Shailesh Moghe , Finance Manager at Dow Chemical International Pvt. Ltd | 05, Feb 2010 11:46 AM

• The question is not really whether someone gets bail or not! Irrelevant of whether someone is caught or not, the moot question we should really ask ourselves is -" is our system generating GOOD citizens with highest of values?" We all know by now that there are still highly qulafied CA's out there who continue to falsify statements in exchange for handsome rewards. Should we not devise a plan that actually attacks our NEGATIVE VALUES SYSTEM? Answered by Oscar Noronha , INTERNAL CONTROLS AND TREASURY SUPERVISOR at Transocean | 05, Feb 2010 11:45 AM

• It is unfortunate that highest court of the country taking things lightly.
  There should be fast tract courts, so that the lessons learnt are put into the system quickly. Answered by Dwarakanath G , GM at Bangalore Metro Rail Corporation Ltd | 05, Feb 2010 11:42 AM

• This is unfortunate. It will give other unscruplous CA's to do what ever they want. This case should have been an deterrent.
  Raju should not be allowed to go scot free. Answered by Yogesh Shah , Accounts Manager at Gartner India Research Centre | 05, Feb 2010 11:37 AM

• YES, it goes without saying Answered by ashok darmalingam , Sr Accounts Officer at Indian Hotels Company(Taj Hotels) | 05, Feb 2010 11:36 AM

• yes Answered by Yashpal Bansal , Company Secretary at MDLR Airlines | 05, Feb 2010 11:34 AM

• yes Answered by pratima bhadresa , sr. accounts and finance manager at magicase enterprises p ltd | 05, Feb 2010 11:34 AM