Satyam Sues PWC for FRAUD
Satyam Computer Services, which has been acquired by Tech Mahindra, has filed a suit against its former Board of Directors, certain employees and the company's audit firm Price Waterhouse in a Hyderabad Court seeking damages for perpetrating a fraud three years ago.
"The company filed a suit in the City Civil Court, Hyderabad, against the past Board of Directors, certain former employees and Price Waterhouse, the former statutory auditors, its affiliates and partners, seeking damages for inter-alia perpetrating fraud, breach of fiduciary responsibility, obligations and negligence in performance of duties," Satyam, now Mahindra Satyam, said in a filing to the BSE.
In January 2009, Satyam founder Chairman B Ramalinga Raju had admitted to the accounting fraud at the IT firm
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