Stocks - Q : Quality | V : Valuation | PT : Price Trend
Funds - P : Performance | Q : Quality
Funds - P : Performance | Q : Quality
The probe into the accounting fraud at Satyam Computer Services has given CBI enough reasons to believe that the scam involves a much bigger amount, close to Rs 10,000 crore, than what was disclosed by the IT company’s founder, Ramalinga Raju.
Sources said the agency has retrieved over 7,000 fake invoices and forged documents showing fixed deposits and bank balances, and their evaluation shows that the size of the scam is over Rs 9,600 crore, much more than the Rs 7,800 crore Raju disclosed on January 7.
The probe found that the accused relied heavily on technology to generate nearly 7,000 fake invoices to the tune of Rs 4,500 crore and fed the same into Satyam’s books. The sources said these inflated figures were also reflected in the balance sheet in the form of audit reports, which helped the company cheat the public who were purchasing its shares.
The accused had forged documents and created fake Fixed Deposit Receipts (FDRs) to the tune of Rs 3,300 crore. The FDRs were shown by the accused as available deposits of the company, the sources said, adding the accused had also allegedly manipulated bank guarantees to show the balance in bank accounts as Rs 1,800 crore.
The CBI alleged that the accused had forged bank documents showing the existence of the cash balance in five banks, including ICICI Bank, HSBC, Citibank and BNP Paribas, but the banks clarified that they did not have any cash balance in the name of the firm.
CBI is, at present, questioning the disgraced former chairman, B Ramalinga Raju, and others, including the auditors of Price Waterhouse. Their custody was handed over to CBI yesterday for two days. Besides Raju, his brother Rama Raju, Satyam’s former CFO Vadlamani Srinivas and PW partners S Gopalakrishnan and Talluri Srinivas are in jail, awaiting trial in connection with the case dubbed as India’s biggest corporate fraud.crackcrack
| Company Name | CMP |
|---|---|
| TCS | 3447.35 |
| Infosys | 1480.20 |
| HCL Tech. | 1579.30 |
| Wipro | 240.80 |
| Tech Mahindra | 1461.50 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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