Showing posts with label new delhi. Show all posts
Showing posts with label new delhi. Show all posts

Wednesday, October 12, 2011

Satyam case: Supreme Court grants bail to five

The Supreme Court on Wednesday granted bail to four erstwhile Satyam Computers Services Ltd employees and an official of its statutory auditor PricewaterhouseCoopers (PwC) accused in one of India's biggest corporate frauds.

Satyam Computers Services Ltd's former senior manager V Venkatapathy Raju, former assistant manager C S Srisailam, former vice president G Ramakrishna, former head of its internal audit V.S. Prabhakar Gupta and PwC employee Subramani Gopalakrishnan were granted bail.

An apex court bench of Justice Dalveer Bhandari and Justice Dipak Misra said they will be released upon the satisfaction of the trial court and they will deposit, if not done already, their passports to the trial court.

The four former officials of Satyam Computers Services Ltd along with the firm's erstwhile owner Ramalinga Raju and his brother are facing prosecution for fudging the company accounts and showing inflated profits which became one of the greatest corporate scams.

The surfacing of the scam and consequent collapse of the company left lakhs of shareholders and others duped

Tuesday, September 27, 2011

Blackberry launches new Curve in India

Research In Motion (RIM) on Tuesday launched the next-generation BlackBerry Curve smartphone in India.

Curve 9360, sporting the QWERTY keyboard for which BlackBerry phones are well-known, runs on BlackBerry 7 operating software. It has a 2.4 inch screen with a resolution of 480 x 360 pixels. However, unlike Bold 9900, the phone's screen doesn't support touch input.

The company hopes that the revamped OS, which features a faster browser and better graphics, will help it take on iPhone and Android devices. RIM said that the new Curve will be available in the market at a price of Rs 19,990.

Curve 9360 comes with an optical trackpad, a 5MP camera and support for up to 32GB micro SD card. The phone also supports NFC (near field communication) technology though currently there is lack of accessories and services that can make use of it.

"Curve series has been extremely popular in India and we are excited to launch Curve 9360. It features a new design along with a performance upgrade and better mobile social experience. It provides an ideal upgrade path for our existing Curve customers as well as the millions of feature phone users in the Indian market," said Frenny Bawa managing director for India at RIM.

According to a study done by Voice&Data few months ago, RIM had a market share of 5.9% in FY 2010-11 after registering over 60% annual growth in revenue in India compared to FY 2009-10. But this year the company has faced strong competition from full touchscreen Android phones that offer better multimedia and web browsing at a cheaper price.