marathon06.org

Wednesday, September 13, 2017

A police officer has shot and killed his wife and two of their children at the train station in the French city of Noyon in the department of Oise, the local prosecutor said, after the wife had informed the officer of her intention to separate from him. Their sons were aged three and five; a third child, twin to the five year old victim, survived the attack and is in the care of child services. The killings took place around 11:30 local time (0930 UTC) on Sunday.

The wife, born in 1983, called the gendarmes (police) in the morning, and they arrived to find her explaining to their five children about the domestic argument which had escalated. The husband returned while the police were present, and they reported he seemed calm and did not interfere with the children being moved to a neighbor’s home, so they departed. The woman reportedly chose to leave her house when her husband was not there, and headed to the station, where the husband awaited them armed.

After assassinating his family, the police officer committed suicide. The wife’s family lived in Guiscard, near Noyon. The station at Noyon was closed after the incident. Late on Sunday, the police were searching for a witness who escaped after observing the events.

Thursday, June 25, 2015

Live music venues in Edinburgh, Scotland are awaiting a review later this year on the 2005 licensing policy, which places limitations on the volume of amplified music in the city. Investigating into how the policy is affecting the Edinburgh music scene, a group of Wikinews writers interviewed venue owners, academics, the City of Edinburgh Council, and local band The Mean Reds to get different perspectives on the issue.

Since the clause was introduced by the government of the city of Edinburgh, licensed venues have been prohibited from allowing music to be amplified to the extent it is audible to nearby residential properties. This has affected the live music scene, with several venues discontinuing regular events such as open mic nights, and hosting bands and artists.

Currently, the licensing policy allows licensing standards officers to order a venue to cease live music on any particular night, based on a single noise complaint from the public. The volume is not electronically measured to determine if it breaches a decibel volume level. Over roughly the past year there have been 56 separate noise complaints made against 18 venues throughout the city.

A petition to amend the clause has garnered over 3,000 signatures, including the support of bar owners, musicians, and members of the general public.

On November 17, 2014, the government’s Culture and Sport Committee hosted an open forum meeting at Usher Hall. Musicians, venue owners and industry professionals were encouraged to provide their thoughts on how the council could improve live music in the city. Ways to promote live music as a key cultural aspect of Edinburgh were discussed and it was suggested that it could be beneficial to try and replicate the management system of live music of other global cities renowned for their live music scenes. However, the suggestion which prevailed above all others was simply to review the existing licensing policy.

Councillor (Cllr) Norma Austin-Hart, Vice Convenor of the Culture and Sport Committee, is responsible for the working group Music is Audible. The group is comprised of local music professionals, and councillors and officials from Edinburgh Council. A document circulated to the Music is Audible group stated the council aims “to achieve a balance between protecting residents and supporting venues”.

Following standard procedure, when a complaint is made, a Licensing Standards Officer (LSO) is dispatched to investigate the venue and evaluate the level of noise. If deemed to be too loud, the LSO asks the venue to lower the noise level. According to a document provided by the City of Edinburgh Council, “not one single business has lost its license or been closed down because of a breach to the noise condition in Edinburgh.”

In the Scotland Licensing Policy (2005), Clause 6.2 states, “where the operating plan indicates that music is to be played in a premises, the board will consider the imposition of a condition requiring amplified music from those premises to be inaudible in residential property.” According to Cllr Austin-Hart, the high volume of tenement housing in the city centre makes it difficult for music to be inaudible.

During the Edinburgh Festival Fringe during the summer, venues are given temporary licences that allow them to operate for the duration of the festival and under the condition that “all amplified music and vocals are controlled to the satisfaction of the Director of Services for Communities”, as stated in a document from the council. During the festival, there is an 11 p.m. noise restriction on amplified music, and noise may be measured by Environmental Health staff using sophisticated equipment. Noise is restricted to 65dB(A) from the facades of residential properties; however, complaints from residents still occur. In the document from the council, they note these conditions and limitations for temporary venues would not necessarily be appropriate for permanent licensed premises.

In a phone interview, Cllr Austin-Hart expressed her concern about the unsettlement in Edinburgh regarding live music. She referenced the closure of the well-known Picture House, a venue that has provided entertainment for over half a century, and the community’s opposition to commercial public bar chain Wetherspoon buying the venue. “[It] is a well-known pub that does not play any form of music”, Cllr Austin-Hart said. “[T]hey feel as if it is another blow to Edinburgh’s live music”. “[We] cannot stop Wetherspoon’s from buying this venue; we have no control over this.”

The venue has operated under different names, including the Caley Palais which hosted bands such as Queen and AC/DC. The Picture House opened in 2008.

One of the venues which has been significantly affected by the licensing laws is the Phoenix Bar, on Broughton Street. The bar’s owner, Sam Roberts, was induced to cease live music gigs in March, following a number of noise complaints against the venue. As a result, Ms Roberts was inspired to start the aforementioned petition to have Clause 6.2 of the licensing policy reviewed, in an effort to remove the ‘inaudibility’ statement that is affecting venues and the music scene.

“I think we not only encourage it, but actively support the Edinburgh music scene,” Ms Roberts says of the Phoenix Bar and other venues, “the problem is that it is a dying scene.”

When Ms Roberts purchased the venue in 2013, she continued the existing 30-year legacy established by the previous owners of hosting live acts. Representative of Edinburgh’s colourful music scene, a diverse range of genres have been hosted at the venue. Ms Roberts described the atmosphere when live music acts perform at her venue as “electric”. “The whole community comes together singing, dancing and having a party. Letting their hair down and forgetting their troubles. People go home happy after a brilliant night out. All the staff usually join in; the pub comes alive”. However licensing restrictions have seen a majority of the acts shut down due to noise complaints. “We have put on jazz, blues, rock, rockabilly, folk, celtic and pop live acts and have had to close everything down.” “Residents in Edinburgh unfortunately know that the Council policy gives them all the rights in the world, and the pubs and clubs none”, Ms Roberts clarified.

Discussing how inaudibility has affected venues and musicians alike, Ms Roberts stated many pubs have lost profit through the absence of gigs, and trying to soundproof their venue. “It has put many musicians out of work and it has had an enormous effect on earnings in the pub. […] Many clubs and bars have been forced to invest in thousands of pounds worth of soundproofing equipment which has nearly bankrupted them, only to find that even the tiniest bit of noise can still force a closure. It is a ridiculously one-sided situation.” Ms Roberts feels inaudibility is an unfair clause for venues. “I think it very clearly favours residents in Edinburgh and not business. […] Nothing is being done to support local business, and closing down all the live music venues in Edinburgh has hurt financially in so many ways. Not only do you lose money, you lose new faces, you lose the respect of the local musicians, and you begin to lose all hope in a ‘fair go’.”

With the petition holding a considerable number of signatures, Ms Roberts states she is still sceptical of any change occurring. “Over three thousand people have signed the petition and still the council is not moving. They have taken action on petitions with far fewer signatures.” Ms Roberts also added, “Right now I don’t think Edinburgh has much hope of positive change”.

Ms Roberts seems to have lost all hope for positive change in relation to Edinburgh’s music scene, and argues Glasgow is now the regional choice for live music and venues. “[E]veryone in the business knows they have to go to Glasgow for a decent scene. Glasgow City Council get behind their city.”

Ms Martina Cannon, member of local band The Mean Reds, said a regular ‘Open Mic Night’ she hosted at The Parlour on Duke Street has ceased after a number of complaints were made against the venue. “It was a shame because it had built up some momentum over the months it had been running”. She described financial loss to the venue from cancelling the event, as well as loss to her as organiser of the event.

Sneaky Pete’s music bar and club, owned by Nick Stewart, is described on its website as “open and busy every night”.”Many clubs could be defined as bars that host music, but we really are a music venue that serves drinks”, Mr Stewart says. He sees the live music scene as essential for maintaining nightlife in Edinburgh not only because of the economic benefit but more importantly because of the cultural significance. “Music is one of the important things in life. […] it’s emotionally and intellectually engaging, and it adds to the quality of life that people lead.”

Sneaky Pete’s has not been immune to the inaudibility clause. The business has spent about 20,000 pounds on multiple soundproofing fixes designed to quell complaints from neighboring residents. “The business suffered a great deal in between losing the option to do gigs for fear of complaints, and finishing the soundproofing. As I mentioned, we are a music business that serves drinks, not a bar that also has music, so when we lose shows, we lose a great deal of trade”, said Mr Stewart.

He believes there is a better way to go about handling complaints and fixing public nuisances. “The local mandatory condition requiring ‘amplified music and vocals’ to be ‘inaudible’ should be struck from all licenses. The requirement presupposes that nuisance is caused by music venues, when this may not reasonably be said to be the case. […] Nuisance is not defined in the Licensing Act nor is it defined in the Public Health Act (Scotland) 2008. However, The Consultation on Guidance to accompany the Statutory Nuisance Provisions of the Public Health etc (Scotland) Act 2008 states that ‘There are eight key issues to consider when evaluating whether a nuisance exists[…]'”.

The eight key factors are impact, locality, time, frequency, duration, convention, importance, and avoidability. Stewart believes it is these factors that should be taken into consideration by LSOs responding to complaints instead of the sole factor of “audibility”.He believes multiple steps should be taken before considering revocation of licenses. Firstly, LSOs should determine whether a venue is a nuisance based on the eight factors. Then, the venue should have the opportunity to comply by using methods such as changing the nature of their live performances (e.g. from hard rock to acoustic rock), changing their hours of operation, or soundproofing. If the venue still fails to comply, then a board can review their license with the goal of finding more ways to bring them into compliance as opposed to revoking their license.

Nick Stewart has discussed his proposal at length with Music is Audible and said he means to present his proposal to the City of Edinburgh Council.

Dr Adam Behr, a music academic and research associate at the University of Edinburgh who has conducted research on the cultural value of live music, says live music significantly contributes to the economic performance of cities. He said studies have shown revenue creation and the provision of employment are significant factors which come about as a result of live music. A 2014 report by UK Music showed the economic value generated by live music in the UK in 2013 was £789 million and provided the equivalent of 21,600 full time jobs.

As the music industry is international by nature, Behr says this complicates the way revenue is allocated, “For instance, if an American artist plays a venue owned by a British company at a gig which is promoted by a company that is part British owned but majority owned by, say, Live Nation (a major international entertainment company) — then the flow of revenues might not be as straightforward as it seems [at] first.”

Despite these complexities, Behr highlighted the broader advantages, “There are, of course, ancillary benefits, especially for big gigs […] Obviously other local businesses like bars, restaurants and carparks benefit from increased trade”, he added.

Behr criticised the idea of making music inaudible and called it “unrealistic”. He said it could limit what kind of music can be played at venues and could force vendors to spend a large amount of money on equipment that enables them to meet noise cancelling requirements. He also mentioned the consequences this has for grassroots music venues as more ‘established’ venues within the city would be the only ones able to afford these changes.

Alongside the inaudibility dispute has been the number of sites that have been closing for the past number of years. According to Dr Behr, this has brought attention to the issue of retaining live music venues in the city and has caused the council to re-evaluate its music strategy and overall cultural policy.

This month, Dr Behr said he is to work on a live music census for Edinburgh’s Council which aims to find out what types of music is played, where, and what exactly it brings to the city. This is in an effort to get the Edinburgh city council to see any opportunities it has with live music and the importance of grassroots venues. The census is similar to one conducted in Victoria, Australia in 2012 on the extent of live music in the state and its economic benefit.

As for the solution to the inaudibility clause, Behr says the initial step is dialogue, and this has already begun. “Having forum discussion, though, is a start — and an improvement”, he said. “There won’t be an overnight solution, but work is ongoing to try to find one that can stick in the long term.”

Beverley Whitrick, Strategic Director of Music Venue Trust, said she is unable to comment on her work with the City of Edinburgh Council or on potential changes to the inaudibility clause in the Licensing Policy. However, she says, “I have been asked to assess the situation and make recommendations in September”.

According to The Scotsman, the Council is working toward helping Edinburgh’s cultural and entertainment scene. Deputy Council Leader Sandy Howat said views of the entertainment industry needs to change and the Council will no longer consider the scene as a “sideline”.

Senior members of the Council, The Scotsman reported, aim to review the planning of the city to make culture more of a priority. Howat said, “If you’re trying to harness a living community and are creating facilities for people living, working and playing then culture should form part of that.”

The review of the inaudibility clause in the Licensing Policy is set to be reviewed near the end of 2016 but the concept of bringing it forward to this year is still under discussion.

Tuesday, May 3, 2005Time Warner Inc/Infobox

Time Warner Inc announced that they are unable to locate a container holding 40 backup tapes. These tapes contain personal information on 600,000 current and former employees back to 1986. This information includes details on dependents and beneficiaries, in addition to Social Security numbers. Customers were not affected, Time Warner said.

The U.S. Secret Service is investigating and has not found any evidence that the tapes have been misused. This loss affects most of the 85,000 current employees. The tapes were lost by Iron Mountain Inc., a data storage company, which routinely handles off-site data storage for Time Warner and many other Fortune 500 companies. Time Warner has said that the tapes would require expensive equipment to read them, and that they were encrypted.

Sunday, December 5, 2010

The controversial plan to raise university tuition fees in England and Wales will be voted on in the House of Commons on Thursday, December 9. The policy has been the cause of protests across the United Kingdom by students, some of which have turned violent. It has also been a source of considerable criticism and political difficulties for the Liberal Democrats and has raised questions as to the long-term viability of the Coalition government.

The new policy on tuition fees will allow universities to double the current tuition fees from £3,290 per year to around £6,000 per year, as well as allowing some universities to get special approval from the Office For Fair Access (OFFA) to raise their fees to £9,000 per year. If passed, the new fee structure will apply starting in the academic year of 2012/2013. The vote on Thursday will only be on the fee rise, with other matters being voted on in the new year following publication of a new higher education white paper.

In addition to increasing fees, the policy will increase the payment threshold at which payment is made. It is currently set at £15,000 and will rise to £21,000, but the interest rate will also rise. It is currently 1.5% but will now vary from between 0% and 3% plus inflation (using the Retail Price Index).

The fee increase follows the publication of an independent review by Lord Browne, former chief executive of BP, a process started by Peter Mandelson, the former Business Secretary. Before the election, two main options were mooted for funding reform in higher education: either an increase in tuition fees or a graduate tax. The Browne Review endorsed the former and the findings of the Review form the basis of the government’s policy. The graduate tax was supported by the Liberal Democrats before the election, and in the Labour leadership elections it was supported by Ed Balls and the winner of the leadership election, Ed Milliband.

Conservative members of the Coalition intend to vote for the reform, and the Labour opposition have been vociferous critics of the rise in fees, despite the previous government’s introduction of top-up fees. The Liberal Democratic members of the Coalition have been left in a politically difficult position regarding the fee hike and have been target of much criticism from protesters. Liberal Democrats have opposed the rise in tuition fees: their party manifesto included a commitment to ending tuition fees within six years, and many signed a pledge organised by the National Union of Students to not vote for any increase in tuition fees.

The Coalition agreement allows Liberal Democrats to opt to abstain on votes for a number of policies including tuition fees. Many Liberal Democrats are expected to abstain, and a few MPs have stated that they will vote against it including former party leader Sir Menzies Campbell, and the recently elected party president Tim Farron, as well as a number of Liberal Democrat back-benchers. Liberal Democrat party leaders have said that they will act collectively, but the BBC have said senior Liberal Democrats have admitted in private that government whips will not be able to force all Liberal Democrats to vote for the policy.

On Tuesday, the Liberal Democrats parliamentary party will meet in the Commons to decide on their collective position. If all ministers decide to vote for the policy, it will probably pass, but if only cabinet ministers (and maybe parliamentary private secretaries) vote for the policy, there is considerable risk of it not passing. If the Coalition does not manage to get the policy through Parliament, it will fuel doubts about the continued effectiveness and viability of the government.

How deputy prime minister Nick Clegg and business secretary Vince Cable vote has been of considerable controversy. Although under the Coalition agreement, they are allowed to abstain, suggestions of doing so have prompted criticism. It was suggested last week that Cable may abstain even though as business secretary he is directly responsible for higher education policy, and has been heavily involved in designing the proposals. Cable has said that Liberal Democrat support of the tuition fee changes has allowed them to push it in a more “progressive” direction.

Cable has now decided that he will vote for the policy, and argues that the policy has “a lot of protection for students from low income backgrounds and graduates who have a low income or take time out for family”. He also believes “there’s common consensus that the system we’ve devised is a progressive one”.

“Dr Cable has performed so many U-turns over the issue of university funding that he is spinning on his heels,” said National Union of Students president Aaron Porter. “That may stand him in good stead with the Strictly Come Dancing judges but the electorate will see it differently.”

Former deputy prime minister John Prescott joked on Twitter that “On tuition fees we’ve noticed Vince Cable’s remarkable transformation in the last few weeks from stalling to Mr In Between”—a reference to a previous attack Prescott made on Gordon Brown as having transformed from “Stalin to Mr Bean”.

On Question Time this week, Liberal Democrat treasury secretary Danny Alexander also confirmed he is prepared to vote for the policy but delegated the question to the meeting of Liberal Democrats on Tuesday.

The politics of the tuition fee debate may also affect the by-election taking place in Oldham East and Saddleworth following the removal of Phil Woolas, where Liberal Democrat and Conservative candidates will both be standing for the first by-election following the formation of the Coalition government.

Opposition to the policy has become the focus for a large number of protests across the country by both current university students, many school pupils and political allies of the student movement.

On November 10, between 30,000 and 52,000 protesters from across Britain marched through central London in a demonstration organised by the National Union of Students and the University and College Union, which represents teachers and lecturers in further and higher education. At the November 10 protest, a number of people occupied Millbank Tower, an office block which houses the Conservative Party. Fifty people were arrested and fourteen were injured. NUS president Aaron Porter condemned the attack and said it was caused by “those who are here to cause trouble”, and that the actions of a “minority of idiots” shouldn’t “undermine 50,000 who came to make a peaceful protest”.

Following the November 10 march, other protests have taken place across the country including an occupation at the University of Manchester, a sit-in at the John Owens Building in Manchester, and a demonstration at the University of Cambridge. A protest was also run outside the offices of The Guardian where Nick Clegg—who was giving a lecture inside the building—was executed in effigy while students protested “Nick Clegg, shame on you, shame on you for turning blue” (blue is the colour of the Conservative Party).

On November 24, a large number of protests took place across the country including a mass walk-out from universities and schools organised on Facebook, numerous university occupations, and demonstrations in Manchester, Cambridge, Birmingham, Leeds, Brighton and Cardiff, and a well-publicised occupation of University College London.

In London, a protest was planned to march down Whitehall to Parliament, but police held protesters in Trafalgar Square until they eventually broke free and ran around in a game of “cat and mouse” along the side streets around Charing Cross Road, Covent Garden and Picadilly Circus.

Simon Hardy from the National Campaign Against Fees and Cuts described the police response including the controversial ‘kettling’ of protesters as “absolutely outrageous”. Green MP Caroline Lucas raised the police response including the use of kettling in the House of Commons and stated that it was “neither proportionate, nor, indeed, effective”.

On November 30, protests continued in London culminating in 146 arrests of protesters in Trafalgar Square, and protests in Cardiff, Cambridge, Newcastle, Bath, Leeds, Sheffield, Edinburgh, Liverpool, Belfast, Brighton, Manchester and Bristol. Protesters in Sheffield attempted to invade and occupy Nick Clegg’s constituency office. Occupations of university buildings started or continued at University College London, Newcastle University, Cambridge University and Nottingham University, as well as council buildings in Oxford and Birmingham.

A “day of action” is being planned on December 8, the day before the Commons vote, by the National Union of Students.

Thursday, July 3, 2014

Ian Narev, the CEO of the Commonwealth Bank of Australia, this morning “unreservedly” apologised to clients who lost money in a scandal involving the bank’s financial planning services arm.

Last week, a Senate enquiry found financial advisers from the Commonwealth Bank had made high-risk investments of clients’ money without the clients’ permission, resulting in hundreds of millions of dollars lost. The Senate enquiry called for a Royal Commission into the bank, and the Australian Securities and Investments Commission (ASIC).

Mr Narev stated the bank’s performance in providing financial advice was “unacceptable”, and the bank was launching a scheme to compensate clients who lost money due to the planners’ actions.

In a statement Mr Narev said, “Poor advice provided by some of our advisers between 2003 and 2012 caused financial loss and distress and I am truly sorry for that. […] There have been changes in management, structure and culture. We have also invested in new systems, implemented new processes, enhanced adviser supervision and improved training.”

An investigation by Fairfax Media instigated the Senate inquiry into the Commonwealth Bank’s financial planning division and ASIC.

Whistleblower Jeff Morris, who reported the misconduct of the bank to ASIC six years ago, said in an article for The Sydney Morning Herald that neither the bank nor ASIC should be in control of the compensation program.

Wednesday, March 7, 2007

The amount of subscribers to broadband in New Zealand have increased 30%, which also results in New Zealand jumping from 22 place to 19 in the OECD rankings, and having a total of 1.4 million Internet subscribers.

In a six-monthly survey by Statistics New Zealand, Internet Service Provider Survey, covering the six months prior to September 30, 2006, the amount of non-analog broadband subscribers reached 28.6%, more than the previous survey conducted the previous year, reaching a total of 611,600. There are currently 14.7 broadband subscribers per 100 people in New Zealand, previously nine.

Because of the increase in broadband subscribers, dial-up subscribers have dropped 5.1% since the start of April, 2006. Chief executive of ihug, an Internet service provider, Mark Rushworth said that dial-up will always have its place.

Out of all the broadband subscribers, 97.6% have a data cap, which limits the amount of monthly downloading that can occur, usually measured in multiples of gigabytes. 66.6% of all those who do have a data cap, have a limit of up to 5 gigabytes. Which the Internet Society of New Zealand’s (InternetNZ) executive director, Keith Davidson, said was disappointing.

The increase in broadband subscribers rose the position of New Zealand from 22 to 19 on the Organisation for Economic Co-operation and Development (OECD) rankings for broadband uptake, dated June, 2006.

InternetNZ, has said that they welcome the survey saying that it is a good improvement, but “…with 60 percent of DSL subscribers having download speeds of less than 256Kbps and 90 percent having upload speeds of less than 256Kbps, we have a long way to go before New Zealanders are able to experience the full potential of broadband.” InternetNZ also says that it will be hard for New Zealand to reach the targets set out by the Government’s “Digital Strategy”.

Mr Davidson said that the main reason for the uptake in broadband is the better plans and pricing for the plans.

In the 18-months leading up to the end of September, 2006, 34% of ISP’s had reported that the regulatory environment had been restricting their growth.

Wednesday, January 6, 2010

File:Tuna.jpg

This Tuesday, at a wholesale auction at the Tsukiji fish market in Tokyo, a 512-pound bluefin tuna was sold for over sixteen-million yen ($177,000 USD). The great fish was bought and then shared by the owners of a local sushi restaurant and a Hong Kong-based dining establishment. This tuna is the most expensive fish sold on record since 2001, when a 440-pound tuna was sold for over twenty-million ($220,000) at the very same market.

When asked by local media outlets why he decided to purchase this giant tuna, the Hong Kong restaurateur said, “I want[ed] to make an impact on the Japanese and Hong Kong economies by buying the highest-priced tuna.”

This locally caught tuna was among over two-thousand others bought and sold at this bustling fish market. Japan is the world’s largest consumer of seafood per annum. With tuna being a major staple of their cuisine, the Japanese eat nearly eighty-percent of all commercially caught bluefin.

However, tuna consumption in Japan has declined over recent years due to the change in the spending habits of its people as a result of economic downturns from the most recent recession.

“Consumers are shying away from eating tuna…We are very worried about the trend,” a spokesperson for the Tsukiji market told the Associated Press.

In addition to the lack of demand and declining tuna stocks, fishermen and wholesalers worldwide are worried by the possibility of tighter fishing regulations that will be sanctioned and enforced by the Japanese government. Despite this promise, many environmentalists say that this is not going far enough; they say that the only way to curb the inevitable extinction of the Pacific bluefin tuna is to initiate a trade ban on the fish altogether.

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.