High Court stayed collection of taxes from 69 companies allegedly having connections with Ramalinga Raju of Satyam Computers

A Division Bench of the Andhra Pradesh High Court comprising Justice G. Raghuram and Justice Ramesh Ranganathan on Thursday stayed the collection of taxes from 69 companies allegedly having connections with Ramalinga Raju of Satyam Computers on the condition that they pay half the amount demanded.

The bench was dealing with writ petitions filed by these companies. The IT authorities reopened assessments for the periods 2002-2003 on the basis of confessions by Ramalinga Raju.