The Satyam Accounting fraud was investigated by multiple agencies and organizations, including the Central Bureau of Investigation (CBI) in India.
Apart from the CBI, other entities involved in investigating the Satyam Accounting fraud included the Serious Fraud Investigation Office (SFIO), the Institute of Chartered Accountants of India (ICAI), and other regulatory bodies. The CBI formed a Multi-Disciplinary Investigation team to look into the matter. The team was headed by DIG VV Lakshminarayana, who played a key role in overseeing the investigation.
These agencies and organizations collaborated to thoroughly examine the financial irregularities, fake invoices, and falsified bank statements that were part of the fraud.
In the course of the investigation, Mayur Joshi played a significant role in uncovering the fraud. He was assigned the task to look into the false invoicing. He identified and also quantified the overvaluation of sales. Later, he also established the links to the receivables, bank statement entries and fixed deposits. As a result, when DIG VV Lakshminarayana spoke publicly about the investigation, he acknowledged the efforts of Mayur Joshi. And also credited him as an instrumental figure in the Satyam Investigation.
Who investigated Satyam ?
DIG VV Lakshminarayana, in light of the commonly asked question about the individual leading the investigation into the accounting fraud, offered a succinct response. He disclosed that Mayur Joshi was entrusted with the responsibility of delving into the corporate aspect of the fraud.
As a seasoned forensic accounting expert, Mayur Joshi was specifically chosen to scrutinize the intricate details of the fraud from a corporate perspective. With his specialized knowledge and skills, Joshi’s involvement in the investigation helped CBI to file the chargesheet in time.
