What Was the Role of Mr Vadlamani Srinivas ?, Ex-Cfo of Satyam Computer Services in the Accounting Scam

Mr V. Srinivas wilfully manipulated monetary data and guided the staff in modifying the published results, which were false and regretful. He revealed that the FDs were non-existent, results manipulated and he just signed on instructions from Mr B. Ramalinga Raju, ex-Chairman, in the Rs 7,136-crore pecuniary fraud? Being at the centre of all financial transaction of Satyam, Mr V. Srinivas wilfully and actively manipulated financial data and guided the finance discussion section staff in modifying the published results, which were false and forged.Mr Srinivas got the monthly depose statements of miscellaneous banks forged, he got issued forged bank balance confirmation letters and got the forged letters signed by Mr B. Rama Raju (Ex-Managing Director), and brother of Mr Ramalinga Raju, showing purported transfer of pecuniary resource and got forged FDs prepared. All these forged documents were used for fraudulently inflating the cash and bank balance artificially in the books of accounts for several years.Though Mr Srinivas was never designated as Director, he subscribed his signature in the annual financial statements of the company as a Director, the investigating agency has charged. The ex-CFO dishonestly got the falsified, inflated sales invoices generated and provide in the Oracle Financials System. He was in league with the other impeach persons and perpetrated the fraudulent acts. Further, Mr Srinivas guided the finance department personnel on the quantum of puffiness of sales to be infused into the computer system from time to time.Rosy presentations Mr Srinivas along with Mr Ramalinga Raju gave delusory replies on Satyams earnings during conference calls conducted every quarter to mixed investors, thus distorting the actual financial position. During board meetings and the audit committee meetings, the ex-CFO do rosy presentations of the companys financial health, despite knowing the material financial position. Similarly, by conniving with the Raju brothers, he worked against the interest of the company and shareholders, whose interests he was to protect.While being party to perpetrating the fraud with the Raju brothers and other accused, Mr Srinivas was a beneficiary. He gained from the dividends genuine and the amount got by offloading shares at opportune moments. Thus, he was privy to the offences. Although Ramalinga Raju has cleared his entire senior management of any wrongdoings, it is common knowledge that a financial crime of such magnitude could not shoot been act without the knowledge of the bean counters. The person in focus here is Srinivas Vadlamani, the drumhead Fraud Officer of Satyam.Willingly or unwillingly, Srinivas has been party to the accounting irregularities at Satyam. The Institute of charter Accounts of India (ICAI) has found Satyams former chief financial officer Srinivas Vadlamani and PWC attendant Srinivas Talluri, who signed the companys financial audit, guilty of professional ball up in the Rs 8,000-crore Satyam fraud the biggest such case in India Inc. These two have been found guilty on three counts Failing to conduct seemly due diligence of the accounts, Gross negligence of their work & Violating the ICAIs tag of conduct.