Monday, 21 March 2016

Probe bank's role

This refer to "Raju inflated rolls to loot Rs.1400 crore" (January 23). I just cannot believe that Ramalinga Raju created 13000 fictitious employees on Satyam's rolls and looted the salary deemed for these ghosh employees.
All companies pay salaries through bank accounts. For transfer of salary of 13000 employees, the same amount of bank accounts have to be created, for which one needs identity and address proof. If Raju has really done this, then the role of the bank which Satyam used to pay salaries to its employees must also be probed. For, without their complicity (or ignorance), this fraud could not been perpetrated.

(This letter published in Mail Today on January 25, 2009)