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CII removes Raju from key posts

January 08, 2009 18:40 IST

Satyam's [Get Quote] disgraced chairman B Ramalinga Raju has been removed from all key positions in the apex industry body, CII, following his disclosure of a multi-billion dollar fraud in India's fourth largest IT firm.

"His position in CII falls vacant since he has resigned from Satyam," a top CII official, who did not wish to be named, told PTI.

Raju, who was heading CII's committee on corporate social responsibility, had enjoyed a tall stature in the chamber till his startling revelations stunned India Inc into "disbelief".

He was among the co-chairs of the prestigious India Economic Summit organised in New Delhi by the World Economic Forum in November last year.

The official said that "Raju's issue would be discussed in CII" but insisted that as of today the positions occupied by him fall vacant.

Satyam is also a member of two other chambers, Ficci and Assocham. While Raju was 'A category' member in the two chambers, he did not hold any special position.

FICCI, where he headed the IT committee last year, is also of the view that with his resignation from Satyam, a new representative of the company will replace Raju.

Assocham said that though the chamber would like the culprits of the Satyam fraud to be brought to book, it would not debar Raju from attending the meeting of the managing committee, of which he is a member.

"We want the Satyam fraud culprits to be punished. However, till a person is pronounced guilty, we cannot stop him from attending our meetings if he chooses to," Assocham Secretary General D S Rawat said.

                                      The Satyam fiasco: Complete Coverage

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