PWC inquiry opened over 'India's Enron' - papers

Shareholders have lost more than $2bn since Satyam's chairman Ramalinga Raju resigned on Wednesday after issuing a statement admitting he had inflated the company's cash reserves and understated its liabilities. Many of the losers are said to have been reassured their investments were safe by PWC's presence. Mr Raju's detailed confession of how he says he cooked the books has now raised serious questions over how $1bn in non-existent cash reserves could have been booked on PWC's watch as auditors. BERNARD MADOFF ASKED THE UK operations of his company to transfer £100 million to his US b...