Saturday, January 10, 2009

Satyam CFO Srinivas Vadlamani attempts suicide: Sources

HYDERABAD: Srinivas Vadlamani, the chief financial officer of Satyam, who is also allegedly involved in the IT company’s financial fraud, 

attempted suicide early this morning, say market sources. He is, however, safe, sources add. 

Disgraced former Satyam chairman Ramalinga Raju in his letter of resignation to Securities and Exchange Board of India (Sebi) and the company’s board of directors admitting fraud, had not absolved the CFO. 

A Satyam spokeswoman however categorically denied that the CFO had attempted to take his life. But she was unable to say where the CFO could be found. "We don’t know where he is," she said. 

According to Satyam employee Vadlamani had not attempted to take his life. "Undoubtedly he is under severe pressure but we were told in the office that he is cooperating with the officials of Sebi who are now investigating our company's matters," said a senior manager of Satyam. But he replied in the negative when asked if he had seen Vadlamani today in office. 

Vadlamani’s name is the only significant one missing from Raju's list of those who were ‘unaware of the real situation’ and the IT company’s wrong-doings. 

Interim CEO Ram Mynampati in a press conference on Thursday said that Vadlamani had put in his papers. The decision on his resignation is to be taken in board’s meeting on January 10. 

The CFO has been absconding from his home in downtown Malkajgiri for the last two days. 

He is said to have attempted suicide in the house of some relative in Ameerpet area, sources said. 

Confirmation from the police about the incident is still awaited. 

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