Satyam’s former chief executive officer (CEO) Ramalinga Raju, after being interrogated for 18 hours, was sent to judicial custody till January 23 along with his brother Rama Raju.
Raju brothers will spend the next two weeks at the high security Chanchalguda prison in Hyderabad. The magistrate at the court in Secunderabad turned down their bail petition, [...]
HYDERABAD: The disgraced Satyam chief, Ramalinga Raju, who was arrested by the Andhra Pradesh CID on Friday night, has been remanded to judicial custody till Jan 23. Earlier, Raju was produced before the 6th additional chief judicial magistrate Ramakrishna of Nampally Courts after 18 hours of interrogation.
As the courts are closed on Saturday, he [...]
HYDERABAD: The disgraced Satyam chief, Ramalinga Raju, who was arrested by the Andhra Pradesh CID on Friday night, was produced before a
magistrate, after 18 hours of interrogation.
Raju has been produced before the 6th additional chief judicial magistrate, Ramakrishna, of Nampally Courts. As the courts are closed on Saturday, he has been taken to Ramakrishna’s Maredpally [...]
Breaking News / What’s Hot?
Huge losses to investors aside, the Satyam scandal has caused “serious damage” to India Inc’s reputation as well as the country’s regulatory authorities outside, the government has said.
Seeking to dismantle the existing board and to nominate ten new directors at the beleaguered IT firm, the Centre has said in its petition before the Company Law [...]
The Central Government doesn’t believe Satyam founder and former chairman Ramalinga Raju’s confession in which he says that no one else in the company knew about the manipulated accounts that showed inflated profits. Investigating agencies are now looking at the role played by other top executives of the company. Satyam’s CFO Valdamani Srinivas is also [...]
Satyam’s former CEO Ramalinga Raju may have owned up to the Rs 7,000 crore fraud, but he’s not going down alone. After arresting him and his brother, the CID has confirmed that company’s chief financial officer Srinivas Vadlamani will be the next one facing arrest. - sources
Raju Raju sat on the wall
Raju Raju had a great fall
Balance sheet died
Shareholders cried
Raju Raju made a **big** **fraud *
Raju Raju
Yes baba
Cheating us
No baba
Telling Lies
No baba
Open the balance sheet
- Posted by our readers
Satyam’s former chief Raju is likely to be produced before the 6th additional chief judicial magistrate of Nampally Courts. Cops are likely to seek his further remand.
As the courts are closed on Saturday, he is being taken to Ramakrishna’s Maredpally residence in Secunderabad.
As part of its probe on scam-tainted Satyam, RBI on Saturday collected particulars of transactions that various banks including SBI and ICICI Bank had with the IT company.
“We have submitted the details of our business deals with Satyam to the Reserve bank. In the wake of these developments (in Satyam), banks are bound to be [...]
NEW DELHI: Taking a tough stand on Satyam financial fiasco, corporate affairs minister Prem Chand Gupta said that there would not be laxity
against the guilty.
The government has ordered inspection of eight Satyam companies under Companies Act.
“We are very clear and a co-ordinated action would be taken,” he told reporters when asked what action would be [...]
Hyderabad: Why did B. Ramalinga Raju, founder of Satyam Computer Services, choose to confess? Perhaps, he might have thought that it would not be long before his misdeeds were exposed.
The other aspect the legal experts are considering is whether it would help escape with lesser penalties. A lot of thinking went into the [...]
Hyderabad: Satyam’s disgraced founder B. Ramalinga Raju, who was arrested yesterday for his involvement in an Rs 7,800 crore financial fraud in the company, underwent a medical check-up on Saturday after he complained of chest pain and uneasiness.
“Raju complained of chest pain and high blood pressure last night. A team of doctors from [...]
LONDON: UK-based mobile services payment company Upaid which is fighting a $1-billion legal battle with Satyam, on Wednesday said it was watching
the developments at the scam-tainted software firm to decide its future course of action.
A Texas court which heard the case on Wednesday did not give a ruling on whether top officials at Satyam, including [...]
Raju has been charged under sections 120 b, 416, 417, 420, 468 and 471 of IPC — all charges relating to fabrication of accounts, criminal conspiracy and cheating. All these offenses are non-bailable.
Raju’s lawyer BharatKumar, however, said bail applications will be filed in appropriate court.
“Raju underwent medical check-up early this morning as he [...]
Satyam’s disgraced founder, Ramalinga Raju was questioned by the police early on Saturday morning after overnight interrogation regarding the Rs 7,800 crore fraud, engineered by him in the company.
Raju and his brother Rama Raju, who were arrested last night by the Andhra Pradesh police, will be produced before the magistrate.
“Raju underwent medical check-up early [...]
MUMBAI: Satyam was clearly the focus of all speculative action on the stock markets on Friday, before the bourses recessed for the weekend.
Rumours about who could be buying into the stock flew thick and fast as 30 crore of Satyam shares changed hands. Since most institutional investors had dumped Satyam shares over the past two [...]
Satyam founder has been booked for:
Criminal conspiracy, after he confessed to perpetrating a 7,000-crore financial fraud
He also faces charges of cheating for presenting a false picture
Forgery for doctoring accounts and showing inflated revenues
Raju and his brother have been booked for criminal breach of trust, now that the future of nearly half-a-lakh employees are at stake
He’s [...]
Satyam’s disgraced ex-chief Ramalinga Raju and his brother Rama Raju spent the night with Andhra CID officials. They were grilled into the early hours of Saturday morning.
The interrogation was reportedly focussed on whether anyone else in the board of directors was aware of this fraud and since when he has been fudging the company’s accounts.
“We [...]
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