Former CA head Sanjay Kumar pleaded 'not guilty' to fraud charges

Former Computer Associates chief executive Sanjay Kumar has pleaded not guilty to charges including securities fraud.

Kumar, and former CA head of sales Stephen Richards, were charged earlier in the week with securities fraud, conspiracy and obstruction of justice relating to their alleged involvement in a multi-billion dollar accountancy scandal.

Kumar has appeared in a US court and pleaded not guilty to the charges and in a statement released by his lawyer he said he, 'denies any wrongdoing and expects to be exonerated of all charges'.Computer Associates has accepted responsibility for the executives' conduct and agreed to pay $225 million in compensation to shareholders, in a bid to defer company prosecution.

Both Kumar and Richards have been ordered to return to court on 23 November. They were also told to post $5m 'personal recognisance bonds', to surrender their passports and limit their travel to within the US.

The magnitude of the accounting fraud became apparent on 26 April, when CA filed forms with the Securities and Exchange Commission restating financial data for the financial years 2000 and 2001.

An internal investigation undertaken by CA's Audit Committee found that $2.2bn of revenue was booked prematurely.

'The defendants are accused of perpetrating a massive accounting fraud that cost public investors hundreds of millions of dollars when it collapsed. Then they allegedly tried to cover up their crimes by lying,' said Deputy Attorney General James B. Comey.

'If proven true, such a conduct cannot be tolerated and the Corporate Fraud Task Force's track record shows that it will be met with severe penalities.'

Celebrating Maha Shivratri in India

25 feb 2014

Celebrating Maha Shivratri

Many mythical stories associated with this "big night of Lord Shiva":

Different reference books and Puranas associate the origin of this day with different events; some attribute Maha Shivratri as the night when Lord Shiva did Tandava, others associate it as the day when he drank the poisonous drink "halahal" and came to be known as Neelkantha. There are others who believe it as the night when he got married to Goddess Paravati while some communities celebrate it as the birthday of Lord Shiva when he came in the form of lingam. Despite the multiple reasons for celebration, the enthusiasm among the Shiva bhaktas is infectious. This year, Maha Shivratri falls on the 27th of February, 2014 and preparations have already started in all the Shiva temples.

The main rituals involving purification, virtue and enlightenment:

It starts with bathing the lingam with milk, curd, honey, ghee and water. Later, the leaves of Bel fruit along with betel leaves, flowers and fruits like dhatura and baer are placed around the lingam.

Sandalwood paste is applied on the lingam.

Incense sticks are burned along with the ghee lamp.

Hymns and mantras are recited which are concluded with Shiva aarti in the end.

Food and Fasting:

The significance of this festival is grand both for married as well as unmarried women and all those who want to fulfill their desires. Many devotees keep fast on this day till midnight and start their day with the worship of Lord Shiva. The Shiva temple is flooded with devotees who perform all the rituals of Shiva lingam pooja and all the rituals continue throughout the night.

Post rituals the other crucial thing is the procedure of fasting where you can have saatvik food like sabudana khichdi, bhang, thandai for dinner. Wearing a rudraksha mala is considered to be very auspicious as rudraksha beads are supposed to have been originated from the tears of Lord Shiva. There is constant recitation of "Om Namah Shivaya" and Mahamritiyunjay Jap.

Relevance of Maha Shivratri:

Apart from keeping fast, simply worshipping the lingam after taking bath grants the blessings of Lord Shiva and the person is said to achieve moksha. This day is celebrated more like a festival with feasting and fairs hosted in different cities. The worshipping of Lord Shiva helps in attaining liberation from all past sins and awakens spirituality.

The significance of this festival is associated with the revival of creative spirit and the whole notion behind creation, destruction and maintenance that are an intricate part of our lives. It helps in strengthening the body, mind and soul guiding us towards enlightenment and happiness. This day marks the union of Shiva and Shakti, the Goddess of energy.