rama raju

The Supreme Court Friday granted bail to erstwhile Satyam Computers Services Ltd founder-chairman B. Ramalinga Raju, his brother B. Rama Raju and staffer V. Srinivas.  An apex court bench of Justice Dalveer Bhandari and Justice Dipak Misra said from the facts of the case and considering the totality of the circumstances, it was appropriate to [...] Full Article

CBI on Monday moved Supreme Court seeking cancellation of the bail granted bail to B Ramalinga Raju, tainted founder of Satyam Computer Services, by Andhra Pradesh High Court in Rs 14,000-crore (Rs 140-billion) scam. The probe agency has challenged the high court decision contending that Raju, who was the Chairman of the company, may influence the witnesses majority of whom are his former employees. Full Article

The Supreme Court on Monday asked former Satyam managing director B Rama Raju and four others, accused in Rs 14,000-crore (Rs 140-billion) accounting fraud in Satyam, as to why their bails should not be cancelled. The Supreme Court bench comprising Justice Deepak Verma and Justice Dalbeer Bhandari issued notices to the five accused on a petition filed by CBI. Full Article

Ramalinga Raju, former chairman of Satyam Computers, who last year confessed to have inflated his company's assets by over $ 1 billion, was declared a pauper by a court here exempting him from paying court costs. New York judge Barabara S Jones approved 'pauper' status for Raju, his brother Rama Raju, Satyam's former chief executive officer, and Srinivas Vadlamani, the company's former head of finance. Full Article

The head count in the fraud hit Satyam Computers, which engaged the attention of investigating agencies considerably, is now become the curse for the company’s former directors.A charge common to most of the accused in the complaints filed in a court here by the Serious Fraud Investigation Office (SFIO) is that they approved the company’s balance sheets and the director’s reports about particulars of employees that were never filed with the competent authority. Full Article

India's notorious Satyam Computer Services scandal has taken a turn for the worse, with the country's Central Bureau of Investigation (CBI) laying new charges against 10 defendants regarding fake invoices, inflated revenues, unauthorised loans and attempted cover ups. These come in a new 200-page charge sheet with 1,549 additional documents and 301 additional witnesses, filed on November 25, before the city court in Hyderabad. Full Article

The government said on Monday its serious fraud probe arm SFIO will start prosecution proceedings against Satyam founder B Ramalinga Raju and others this month, as there was sufficient evidence of their involvement in the over Rs 10,000-crore (Rs 100-billion) scam in the IT firm. Full Article

Sources in the Hyderabad police said the CB-CID police have arrested Satyam’s two Pricewaterhouse auditors S Gopal Krishnan and Srinivas Talluri last night. Pricewaterhouse had not responded to the arrest, at the time of filing the report. Earlier on Friday, the 6th Metropolitan Magistrate of the Nampally Court rejected the petition of market regulator Securities [...] Full Article