The Indian government suspects Satyam’s disgraced former chairman Ramalinga Raju may have diverted money into a maze of subsidiary firms.
Minister of State for Company Affairs Prem Chand Gupta told the FT that there had clearly been serious irregularities in the firm’s figures: “On the face of it the Registrar of Companies feels that various figures [...]
Satyam Computer Services Ltd. plans to hire as many as three investment banks to find a buyer for the Indian software exporter, the Economic Times said, citing unidentified people familiar with the plan.
Satyam’s board is considering hiring Goldman Sachs Group Inc., JPMorgan Chase & Co. and Deutsche Bank AG, the newspaper said today. A decision [...]
MUMBAI, Jan 19 (Reuters) - U.S.-based insurer State Farm Insurance Co has terminated its contract with fraud-hit Satyam Computer Services Ltd (SATY.BO), a spokeswoman for the Indian outsourcer said on Monday.
Confirming a report in the Mint newspaper, she said Satyam would issue a statement later on Monday.
Satyam, India’s No. 4 software services exporter, has been [...]
HYDERABAD: A Hyderabad court has deferred till January 22 the bail plea of Satyam’s disgraced former chief B Ramalinga Raju. Raju will remain in
police custody.
Market regulator Sebi’s petition to interrogate Raju has also been deferred to January 22.
A short while ago, the court heard the bail petitions of Raju, his brother Rama Raju and their [...]
Andhra Pradesh CID is looking for cyber experts to nail Satyam Computer Services Ltd founder and its former chairman B Ramalinga Raju’s e-mail trail. The CID is interrogating Raju along with his brother and Satyam’s former managing director Rama Raju and former chief financial officer Vadlamani Srinivas after getting their custody for four days from [...]
The former Chairman of Satyam Computer, Mr B.Ramalinga Raju, being taken to CID police custody from the Chanchalguda Central prison in Hyderabad on Sunday. - Satish. H
Image Source / Courtesy: The Hindu Business Line
Raju’s stake fell from 22.78% to 8.63% over seven years.
Snapshot: The likely amount realised from share sale is Rs 2053 crore
The likely dividend amount realised is Rs 144 crore
BL Research Bureau
Chennai, Jan.18 Satyam Computer Services’ ex-Chairman, Mr Ramalinga Raju, sold a little under four-and- a-half crore shares in the company over [...]
Satyam’s former chief Ramalinga Raju’s interrogation can finally start, a fortnight after he confessed to corporate India’s biggest fraud of Rs 7,000 crores.
Raju his brother Rama Raju and the CFO V Srinvas have been shifted from jail to the state CID office in Hyderabad. The court will decide on Monday whether stock market regulator SEBI [...]
Satyam’s disgraced former chief B Ramalinga Raju, his brother Rama Raju and former CFO V Srinivas will be questioned by the CID on Monday.
They were transferred from Chanchalguda jail to CID custody on Sunday and will be questioned for the next four days by the CID.
However, Raju is armed with a Hyderabad court order, cushioning [...]
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