A local court from Hyderabad on 08.12.2014 convicted Satyam founder B Ramalinga Raju, accused of one of the most sensational corporate frauds in the country, and other accused in connection with complaints filed by Serious Fraud Investigation Office (SFIO).
special prosecutor C Raghu said said that Out of the seven complaints, the accused including Raju and some others were convicted in six complaints with jail terms and fines while in one complaint where the offence is punishable with fine, they were granted acquittal. The sentences will run concurrently.
Satyam founder B Ramalinga Raju and some of the directors were sentenced to six months’ imprisonment and each of them were fined an amount ranging from Rs 10,000 to Rs 10 lakh, while in other complaints only fines were imposed.
The court directed one of the former directors, Krishna G Palepu, to pay fine of a whopping Rs 2.66 crore in complaint number 394/2009 within two months. Source- With inputs from PTI