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Regulatory case

SEC v. Satyam Computer Services Limited, and In the Matter of PwC India affiliates

Authority: US Securities and Exchange Commission
Case number: Press Release 2011-82
Filed or opened: 5 April 2011
Organization: Satyam Computer Services Limited
Current stage: Settled on 5 April 2011.
Outcome: Settled. The release read does not state whether findings were admitted.

Decisions and steps

5 April 2011Satyam settles fraud charges with a US$10 million penalty. PwC India affiliates agree to a US$6 million penalty^S1

Claims this case bears on

Partly supported76
Satyam's books overstated its cash and bank balances by Rs 5,040 crore, as its founder wrote to the board in January 2009.
Company statement, 7 January 20094 records citedAccounting

Sources

S1Tier A SEC Charges India-Based Affiliates of PWC for Role in Satyam Accounting FraudUS Securities and Exchange Commission. Regulator press release. 5 April 2011.Supports the settlements with Satyam and the PwC India affiliates. It gives no figure for the cash gap and the page read does not state admit or deny terms.