Monday, August 3, 2009

Two Palestinian families who have been living in East Jerusalem since 1956, were evicted from their homes on Sunday after an Israeli court rejected their appeal filed against the eviction. The eviction comes after increasing international pressure on Israel to stop settlement activity and end home evictions.

Israeli security forces entered the homes at 6:00 a.m. (local time) and forcibly removed the family and international activists who were also living in the homes. At least 19 children were among those removed. Al Jazeera reports that a family was beaten with batons as they tried to get back into their house. JTA reports that Jewish families moved into the homes shortly after the Palestinian families were evicted.

Israeli Prime Minister Benjamin Netanyahu has laid biblical claim to the areas of East Jerusalem and has stated that Jews have the right to live anywhere in the city. Although Jerusalem is internationally recognized as occupied territory, Israel continues to evict Palestinians and instead build Jewish only apartments in the area, an action which is considered to be illegal under the Fourth Geneva Convention. Israel has plans for 350 new apartment buildings in East Jerusalem. U.N special coordinator for Middle East Peace, Robert Serry, condemned the evictions as “totally unacceptable”.

The international community, including the United States, has called on Israel to stop settlement activity and allow for the creation of a Palestinian state.

The time is 18:00 (UTC) on May 18th, 2006, and this is Audio Wikinews News Briefs.

Sunday, February 13, 2005

New York –”Buy cheap Viagra through us – no prescription required!” Anyone with an active email account will recognize lines like this one. According to some reports, unsolicited advertisements (spam) for Viagra and similar drugs account for one in four spam messages.

Ever since pharmaceutical giant Pfizer promised to cure erectile dysfunction once and for all with its blue pills containing the drug sildenafil citrate, spammers have tried to tap into male anxiety by offering prescription-free sales of unapproved “generic” Viagra and clones such as Cialis soft tabs. Legislation like the U.S. CAN-SPAM act has done little to stem the tide of email advertising the products.

Now Pfizer has entered a pledge with Microsoft Corporation, the world’s largest software company, to address the problem. The joint effort will focus on lawsuits against spammers as well as the companies they advertise. “Pfizer is joining with Microsoft on these actions as part of our shared pledge to reduce the sale of these products and to fight the senders of unsolicited e-mail that overwhelms people’s inboxes,” said Jeff Kindler, executive vice president at Pfizer.

Microsoft has filed civil actions against spammers advertising the websites CanadianPharmacy and E-Pharmacy Direct. Pfizer has filed lawsuits against the two companies, and has taken actions against websites which use the word “Viagra” in their domain names. Sales of controlled drugs from Canadian pharmacies to the United States are illegal, but most drugs sold in Canada have nevertheless undergone testing by the U.S. Food and Drug Administration. This is not the case for many of the Viagra clones sold by Internet companies and manufactured in countries like China and India. While it was not clear that CanadianPharmacy was actually shipping drugs from Canada, Pfizer’s general counsel, Beth Levine, claimed that the company filled orders using a call center in Montreal, reported the Toronto Star.

For Microsoft’s part, they allege that the joint effort with Pfizer is part of their “multi-pronged attack on the barrage of spam.” As the creator of the popular email program Outlook, Microsoft has been criticized in the past for the product’s spam filtering process. Recently, Microsoft added anti-spam measures to its popular Exchange server. Exchange 2003 now includes support for accessing so-called real-time block lists, or RTBLs. An RTBL is a list of the IP addresses maintained by a third party; the addresses on the list are those of mailservers thought to have sent spam recently. Exchange 2003 can query the list for each message it receives.

Sunday, April 11, 2010

A Muslim woman has been killed by her religious apparel during a freak go-cart accident in Port Stephens, Australia. Mariam Dadoun, a 26-year-old mother, was out with her two children and husband enjoying their vacation time. While visiting Port Stephens Go-Karts, the vehicle had twisted her flowing hijab in the wheel’s axle.

Peter Fox of Port Stephens Local Area Command said, “the scarf was pulled across her throat […] from one side of the body to the other side”.

Medical professionals on the scene succeeded in reviving Dadoun. However, she shortly died of severe neck and throat injuries after being airlifted in a Westpac rescue helicopter to the nearby John Hunter Hospital.

The track has since been closed pending further investigation and a lack of proper licensing. The go-cart used in the accident has similarly been taken away for forensic examination by police authorities.

The spokesman of the New South Wales division of WorkCover, an organization tasked with ensuring the safety of amusement devices, commented that, “[Go-carts are] classified as amusement devices that have to be registered for safety purposes”. One go-cart on the property was found to lack proper guarding while the other had not been certified for use.

Sharon and Scott Taylor were waiting in line with their children at the time. Scott said that the injuries were clearly severe as the paramedics began helping her. He added, “Her clothing had wrapped around her neck”. “The cart hit the wall and stopped and she was just slumped over,” remarked Sharon.

Dadoun was the mother of two children, aged six and four. According to her aunt, she was a devoted caregiver and had been always willing to help others. More specifically, she remarked, “If anyone needed help, she wouldn’t say no. She did a lot for everybody – for her friends, her family, her relatives.” Strongly said, “You can’t describe Mariam. She was the best.”

[edit]

Wikinews accredited reporter Killing Vector traveled to the G-20 2009 summit protests in London with a group of protesters. This is his personal account.

Friday, April 3, 2009

London – “Protest”, says Ross Saunders, “is basically theatre”.

It’s seven a.m. and I’m on a mini-bus heading east on the M4 motorway from Cardiff toward London. I’m riding with seventeen members of the Cardiff Socialist Party, of which Saunders is branch secretary for the Cardiff West branch; they’re going to participate in a march that’s part of the protests against the G-20 meeting.

Before we boarded the minibus Saunders made a speech outlining the reasons for the march. He said they were “fighting for jobs for young people, fighting for free education, fighting for our share of the wealth, which we create.” His anger is directed at the government’s response to the economic downturn: “Now that the recession is underway, they’ve been trying to shoulder more of the burden onto the people, and onto the young people…they’re expecting us to pay for it.” He compared the protest to the Jarrow March and to the miners’ strikes which were hugely influential in the history of the British labour movement. The people assembled, though, aren’t miners or industrial workers — they’re university students or recent graduates, and the march they’re going to participate in is the Youth Fight For Jobs.

The Socialist Party was formerly part of the Labour Party, which has ruled the United Kingdom since 1997 and remains a member of the Socialist International. On the bus, Saunders and some of his cohorts — they occasionally, especially the older members, address each other as “comrade” — explains their view on how the split with Labour came about. As the Third Way became the dominant voice in the Labour Party, culminating with the replacement of Neil Kinnock with Tony Blair as party leader, the Socialist cadre became increasingly disaffected. “There used to be democratic structures, political meetings” within the party, they say. The branch meetings still exist but “now, they passed a resolution calling for renationalisation of the railways, and they [the party leadership] just ignored it.” They claim that the disaffection with New Labour has caused the party to lose “half its membership” and that people are seeking alternatives. Since the economic crisis began, Cardiff West’s membership has doubled, to 25 members, and the RMT has organized itself as a political movement running candidates in the 2009 EU Parliament election. The right-wing British National Party or BNP is making gains as well, though.

Talk on the bus is mostly political and the news of yesterday’s violence at the G-20 demonstrations, where a bank was stormed by protesters and 87 were arrested, is thick in the air. One member comments on the invasion of a RBS building in which phone lines were cut and furniture was destroyed: “It’s not very constructive but it does make you smile.” Another, reading about developments at the conference which have set France and Germany opposing the UK and the United States, says sardonically, “we’re going to stop all the squabbles — they’re going to unite against us. That’s what happens.” She recounts how, in her native Sweden during the Second World War, a national unity government was formed among all major parties, and Swedish communists were interned in camps, while Nazi-leaning parties were left unmolested.

In London around 11am the march assembles on Camberwell Green. About 250 people are here, from many parts of Britain; I meet marchers from Newcastle, Manchester, Leicester, and especially organized-labor stronghold Sheffield. The sky is grey but the atmosphere is convivial; five members of London’s Metropolitan Police are present, and they’re all smiling. Most marchers are young, some as young as high school age, but a few are older; some teachers, including members of the Lewisham and Sheffield chapters of the National Union of Teachers, are carrying banners in support of their students.

Stewards hand out sheets of paper with the words to call-and-response chants on them. Some are youth-oriented and education-oriented, like the jaunty “Gordon Brown‘s a Tory/He wears a Tory hat/And when he saw our uni fees/He said ‘I’ll double that!'” (sung to the tune of the Lonnie Donegan song “My Old Man’s a Dustman“); but many are standbys of organized labour, including the infamous “workers of the world, unite!“. It also outlines the goals of the protest, as “demands”: “The right to a decent job for all, with a living wage of at least £8 and hour. No to cheap labour apprenticeships! for all apprenticeships to pay at least the minimum wage, with a job guaranteed at the end. No to university fees. support the campaign to defeat fees.” Another steward with a megaphone and a bright red t-shirt talks the assembled protesters through the basics of call-and-response chanting.

Finally the march gets underway, traveling through the London boroughs of Camberwell and Southwark. Along the route of the march more police follow along, escorting and guiding the march and watching it carefully, while a police van with flashing lights clears the route in front of it. On the surface the atmosphere is enthusiastic, but everyone freezes for a second as a siren is heard behind them; it turns out to be a passing ambulance.

Crossing Southwark Bridge, the march enters the City of London, the comparably small but dense area containing London’s financial and economic heart. Although one recipient of the protesters’ anger is the Bank of England, the march does not stop in the City, only passing through the streets by the London Exchange. Tourists on buses and businessmen in pinstripe suits record snippets of the march on their mobile phones as it passes them; as it goes past a branch of HSBC the employees gather at the glass store front and watch nervously. The time in the City is brief; rather than continue into the very centre of London the march turns east and, passing the Tower of London, proceeds into the poor, largely immigrant neighbourhoods of the Tower Hamlets.

The sun has come out, and the spirits of the protesters have remained high. But few people, only occasional faces at windows in the blocks of apartments, are here to see the march and it is in Wapping High Street that I hear my first complaint from the marchers. Peter, a steward, complains that the police have taken the march off its original route and onto back streets where “there’s nobody to protest to”. I ask how he feels about the possibility of violence, noting the incidents the day before, and he replies that it was “justified aggression”. “We don’t condone it but people have only got certain limitations.”

A policeman I ask is very polite but noncommittal about the change in route. “The students are getting the message out”, he says, so there’s no problem. “Everyone’s very well behaved” in his assessment and the atmosphere is “very positive”. Another protestor, a sign-carrying university student from Sheffield, half-heartedly returns the compliment: today, she says, “the police have been surprisingly unridiculous.”

The march pauses just before it enters Cable Street. Here, in 1936, was the site of the Battle of Cable Street, and the march leader, addressing the protesters through her megaphone, marks the moment. She draws a parallel between the British Union of Fascists of the 1930s and the much smaller BNP today, and as the protesters follow the East London street their chant becomes “The BNP tell racist lies/We fight back and organise!”

In Victoria Park — “The People’s Park” as it was sometimes known — the march stops for lunch. The trade unions of East London have organized and paid for a lunch of hamburgers, hot dogs, french fries and tea, and, picnic-style, the marchers enjoy their meals as organized labor veterans give brief speeches about industrial actions from a small raised platform.

During the rally I have the opportunity to speak with Neil Cafferky, a Galway-born Londoner and the London organizer of the Youth Fight For Jobs march. I ask him first about why, despite being surrounded by red banners and quotes from Karl Marx, I haven’t once heard the word “communism” used all day. He explains that, while he considers himself a Marxist and a Trotskyist, the word communism has negative connotations that would “act as a barrier” to getting people involved: the Socialist Party wants to avoid the discussion of its position on the USSR and disassociate itself from Stalinism. What the Socialists favor, he says, is “democratic planned production” with “the working class, the youths brought into the heart of decision making.”

On the subject of the police’s re-routing of the march, he says the new route is actually the synthesis of two proposals. Originally the march was to have gone from Camberwell Green to the Houses of Parliament, then across the sites of the 2012 Olympics and finally to the ExCel Centre. The police, meanwhile, wanted there to be no march at all.

The Metropolitan Police had argued that, with only 650 trained traffic officers on the force and most of those providing security at the ExCel Centre itself, there simply wasn’t the manpower available to close main streets, so a route along back streets was necessary if the march was to go ahead at all. Cafferky is sceptical of the police explanation. “It’s all very well having concern for health and safety,” he responds. “Our concern is using planning to block protest.”

He accuses the police and the government of having used legal, bureaucratic and even violent means to block protests. Talking about marches having to defend themselves, he says “if the police set out with the intention of assaulting marches then violence is unavoidable.” He says the police have been known to insert “provocateurs” into marches, which have to be isolated. He also asserts the right of marches to defend themselves when attacked, although this “must be done in a disciplined manner”.

He says he wasn’t present at yesterday’s demonstrations and so can’t comment on the accusations of violence against police. But, he says, there is often provocative behavior on both sides. Rather than reject violence outright, Cafferky argues that there needs to be “clear political understanding of the role of violence” and calls it “counter-productive”.

Demonstration overall, though, he says, is always a useful tool, although “a demonstration is always a means to an end” rather than an end in itself. He mentions other ongoing industrial actions such as the occupation of the Visteon plant in Enfield; 200 fired workers at the factory have been occupying the plant since April 1, and states the solidarity between the youth marchers and the industrial workers.

I also speak briefly with members of the International Bolshevik Tendency, a small group of left-wing activists who have brought some signs to the rally. The Bolsheviks say that, like the Socialists, they’re Trotskyists, but have differences with them on the idea of organization; the International Bolshevik Tendency believes that control of the party representing the working class should be less democratic and instead be in the hands of a team of experts in history and politics. Relations between the two groups are “chilly”, says one.

At 2:30 the march resumes. Rather than proceeding to the ExCel Centre itself, though, it makes its way to a station of London’s Docklands Light Railway; on the way, several of East London’s school-aged youths join the march, and on reaching Canning Town the group is some 300 strong. Proceeding on foot through the borough, the Youth Fight For Jobs reaches the protest site outside the G-20 meeting.

It’s impossible to legally get too close to the conference itself. Police are guarding every approach, and have formed a double cordon between the protest area and the route that motorcades take into and out of the conference venue. Most are un-armed, in the tradition of London police; only a few even carry truncheons. Closer to the building, though, a few machine gun-armed riot police are present, standing out sharply in their black uniforms against the high-visibility yellow vests of the Metropolitan Police. The G-20 conference itself, which started a few hours before the march began, is already winding down, and about a thousand protesters are present.

I see three large groups: the Youth Fight For Jobs avoids going into the center of the protest area, instead staying in their own group at the admonition of the stewards and listening to a series of guest speakers who tell them about current industrial actions and the organization of the Youth Fight’s upcoming rally at UCL. A second group carries the Ogaden National Liberation Front‘s flag and is campaigning for recognition of an autonomous homeland in eastern Ethiopia. Others protesting the Ethiopian government make up the third group; waving old Ethiopian flags, including the Lion of Judah standard of emperor Haile Selassie, they demand that foreign aid to Ethiopia be tied to democratization in that country: “No recovery without democracy”.

A set of abandoned signs tied to bollards indicate that the CND has been here, but has already gone home; they were demanding the abandonment of nuclear weapons. But apart from a handful of individuals with handmade, cardboard signs I see no groups addressing the G-20 meeting itself, other than the Youth Fight For Jobs’ slogans concerning the bailout. But when a motorcade passes, catcalls and jeers are heard.

It’s now 5pm and, after four hours of driving, five hours marching and one hour at the G-20, Cardiff’s Socialists are returning home. I board the bus with them and, navigating slowly through the snarled London traffic, we listen to BBC Radio 4. The news is reporting on the closure of the G-20 conference; while they take time out to mention that Canadian Prime Minister Stephen Harper delayed the traditional group photograph of the G-20’s world leaders because “he was on the loo“, no mention is made of today’s protests. Those listening in the bus are disappointed by the lack of coverage.

Most people on the return trip are tired. Many sleep. Others read the latest issue of The Socialist, the Socialist Party’s newspaper. Mia quietly sings “The Internationale” in Swedish.

Due to the traffic, the journey back to Cardiff will be even longer than the journey to London. Over the objections of a few of its members, the South Welsh participants in the Youth Fight For Jobs stop at a McDonald’s before returning to the M4 and home.

Monday, January 12, 2009

Byrraju Ramalinga Raju, founder and chairman of Satyam Computer Services, and his brother, B. Rama Raju, the company’s managing director, were arrested late Friday by Andhra Pradesh police. The brothers were placed under judicial custody in a Hyderabad, India jail and will remain there until January 23. Facing charges of criminal breach of trust (Section 406 of IPC), criminal conspiracy (Section 120-B), cheating (Section 420), falsification of records and forgery (Section 468), and fraudulent cancellation of securities (Section 477-a), they face up to ten years imprisonment if convicted.

After 18 hours of interrogation by the Crime Investigation Department (CID) at the state police headquarters, the Raju brothers were sent to the Chanchalguda prison and slept Saturday night on the floor along with 26 other low-risk inmates.

S. Bharat Kumar, the Rajus’s lawyer, asked the magistrate to issue orders for health monitoring. “His blood pressure is fluctuating and he needs medical treatment,” said Bharat Kumar. Mr. Raju appeared before the court Saturday while a team of doctors visited him after he had complained of chest pain.

Raju has Hepatitis-C, and both brothers have high blood pressure, so health precautions are necessary while imprisoned. Prison rules mandate service of jail food thrice a day. The menu includes 650 gm of rice thrice a day with 250 gm of vegetable curry and 125 gm of ‘daal’ plus tea twice a day.

Satyam’s chief financial officer Vadlamani Srinivas, who was also arrested Saturday, had undergone preliminary investigation and appeared Sunday before a special court, according to A. Sivanarayana, Andhra Pradesh additional director general of police. Srinivas was remanded to judicial custody until January 23 by Mr. D. Ramakrishna, Sixth Chief Metropolitan Magistrate, and sent to the Chanchalguda jail with the Raju brothers after interrogation by CID’s Crime Branch (the CB-CID). During his Saturday night arrest and probe by CB-CID, Srinivas made revelations which are contained in his confession letter as submitted to Network 18. “According to me fixed deposits are unreal and fictitious which were managed and was an understanding between the audit section management,” Srinivas stated.

The Hyderabad court on Monday postponed the bail hearings of the Raju brothers and Srinivas to January 16. To be defended by a battalion of 25 lawyers, the three accused will remain in Chanchalguda Central Jail until further court order. The Raju brothers were shifted Sunday to a mid-size Old Hospital Barrack cell shared with a bootlegger.

In 2008, the company struggled to purchase two infrastructure companies founded by family members of company founder and CEO Dr. Raju – Maytas Infrastructure and Maytas Properties – for $1.6 billion, despite concerns raised by independent board directors. Dr. Raju tendered his resignation on January 7 after due notice of falsified accounts to board members and the SEBI.

Since January 7 when two lawsuits were commenced, dozens of other class action law suits were filed against Satyam for hundreds of millions of dollars damages based on fraud in the United States District Court for the Southern District of New York in Manhattan, among others. The securities fraud class-action lawsuits have been filed on behalf of investors who bought Satyam American Depositary Receipts (ADRs) since 2004.

On Wednesday Dr. Raju admitted to falsifying and overstating Satyam’s cash reserves by $1B US dollars (£661m) or 94% of its cash and bank balances on books at the end of September.

The fraud was perpetrated several years ago to bridge “a marginal gap” between actual and accounting books operating profits, and continued for several years. “It was like riding a tiger, not knowing how to get off without being eaten,” B. Raju said.

In a letter to the board, Dr. Raju said that neither he nor the managing director had benefited financially from the inflated revenues. Further claiming that none of the board members had any knowledge of the dire company situation, he noted that Satyam’s balance sheet as of the September 30, 2008, carried inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books). He alleged it also carried an accrued interest of INR 376 crore which was non-existent. He confessed that he himself prepared an understated liability of INR 1,230 crore on account of funds amid an overstated debtors’ position of INR 490 crore (as against INR 2,651 crore in the books).

Indian analysts have compared the Satyam-Raju scandal to the infamous American Enron scandal. Immediately following the media expose, PricewaterhouseCoopers, auditor of Satyam’s accounts, was set to be probed for complicity in the controversy. Times Now has reported that the Andhra Pradesh CID arrested PricewaterhouseCoopers (PWC) representative Gopal Krishnan for investigation on Saturday night.

New York-listed Satyam Computer Services Ltd., India’s fourth-biggest software firm, is a consulting and information technology services company based in Hyderabad, India. Founded in 1987 by Dr. Byrraju Ramalinga Raju, Satyam’s network spans 67 countries on six continents. It employs 53,000 professionals in India, the United States, the United Kingdom, the United Arab Emirates, Canada, Hungary, Singapore, Malaysia, China, Japan, Egypt and Australia. Its monthly salary outflow is estimated at six billion rupees ($125 million). Deriving more than half of its revenues from the United States, it serves 700 global companies, 185 of which are Fortune 500 corporations.

Satyam’s clients include Nestle, Ford, General Electric Co., General Motors Corp., Nissan Motor Co., Applied Materials Inc., Caterpillar Inc., Cisco Systems Inc. and Sony Corp., and brought in about $40bn last year.

In December 2008, a failed acquisition attempt involving the company Maytas led to a plunge in Satyam’s share price. After Wednesday’s confession, Satyam stocks fell further by more than 70%, while the BSE SENSEX dropped to 7.3% Wednesday, causing the removal of Satyam Computer Services from its indices on Thursday. The shares free fell to 11.50 rupees on Friday, their lowest level since March 1998, compared with around last year’s high of 544 rupees.

The New York Stock Exchange has terminated trading in Satyam stock as of January 7, while the National Stock Exchange of India said it will remove Satyam from its S&P CNX Nifty 50-share index from January 12.

India’s biggest-ever corporate fraud has seriously tainted India Inc.‘s strong corporate governance image. “The admission of fraud in financial affairs has created an adverse impression in the minds of trade, business and industry across the world,” the Indian government admitted. The government intervened on Friday night, dismissing Satyam’s board of directors, announcing it will appoint representatives to manage the affairs of the insolvent outsourcing giant. The board would meet within seven days. Dr Yeduguri Samuel Rajasekhara Reddy, chief Minister of State of Andhra Pradesh, India, on Sunday said that the main agenda is to protect the jobs of the software professionals. “We are taking all needful steps in coordination with the government of India to ensure that the jobs of 53,000 engineers are protected and the shareholders’ money is salvaged,” Reddy said.

“We are working on the names. The Satyam case is an aberration. The credibility of the Indian corporate sector in general, and IT sector in particular, should not be allowed to suffer because of this.” Prem Chand Gupta, the Corporate Affairs Minister said. The Federal Government of India appointed a three-member independent board with full authority for Satyam on Sunday and was set to convene within 24 hours. “We have appointed Deepak Parekh, chairman of Housing Development Finance Corporation, Kiran Karnik, former president of IT industry body NASSCOM and C. Achutan, former member of Securities and Exchange Board (SEBI) of India,” Mr. Gupta said.

In early Monday trading (0535 GMT) after the creation of the three-member board, Satyam shares rocketed upwards 60% to 38.15 rupees, even though the main Mumbai market was down more than 2%. BBC reported that Satyam shares have jumped 51% to 36.05 rupees on Monday after the stock lost 87% last week. “The constitution of the new board is seen as a positive step by the market. It’s a confidence boosting measure,” K.K. Mital, Globe Capital, New Delhi head of portfolio management services said. “But the rally will depend largely on the financial situation at the company and the kind of measures that are taken to improve liquidity,” he added.

The Company Law Board, however, has requested Satyam’s interim board not to implement its decisions. “We are asked by the Company Law Board not to implement the decisions of the board. But we are allowed to continue our activity. The team which was constituted recently is continuing its work,” Satyam head global marketing and communications, Mr. Hari Thalapalli, said.

Lazard Ltd., who has a 7.4% stake in Satyam, sought representation on the new board and wrote as much to The Indian Ministry of Corporate Affairs. “As the largest shareholder in the company, we want to be consulted in whatever decisions are being taken by the Indian government. We have written to the Ministry of Corporate Affairs and are awaiting a reply from them,” Hitesh Jain, a partner at ALMT Legal, who claimed to represent Lazard, said. “It is a fair proposal and we will take a decision as and when we clear other issues. No decision on this has been taken yet,” P.C. Gupta replied.

Meanwhile, the Securities and Exchange Board of India (SEBI) also announced it will try to control the damage and take steps to boost investor confidence. “This exercise will be undertaken after the third quarter results and is expected to be completed by end of February this year,” a SEBI official statement said. A SEBI team is also investigating acting-CEO Ram Mynampati whose salary was greater than that of founder Dr. Raju and all the directors combined. Dr. Raju had just one fifth of Mynampati’s total package of over Rs 3.5 crore as of March 2008. All the directors comparably received only a total of Rs 2.6 crore as salary, commissions, sitting fees, professional fees and other receivables.

Further, the Andhra Pradesh Police CID and teams assigned by the Economic Offences Wing of the CB-CID conducted searches Sunday of homes of the accused including the ex-CFO’s office to gather documentary evidence about the financial fraud.