Rediff India Abroad
 Rediff India Abroad Home  |  All the sections

Search:



The Web

India Abroad




Newsletters
Sign up today!

Get news updates:
  


Home > India > Business > Business Headline > Report

   Discuss   |      Email   |      Print   |   Get latest news on your desktop

Raju to be treated like ordinary prisoner

Mohammed Siddique in Hyderabad | January 11, 2009 14:15 IST
Last Updated: January 11, 2009 22:12 IST


Founder of Satyam [Get Quote] Computer, B Ramalinga Raju, who lived like a 'king' before admitting fudging of company accounts to the tune of Rs 7,800 crore (Rs 78 billion), slept on the floor of the Chanchalguda jail here like other ordinary prisoners.

According to sources, the Raju brothers have been given the status of 'C' class prisoners or undertrials. However, they did not have to put on the prisoners' uniforms as they have not been indicted by the court as yet.
 
The Raju brothers had to sleep on a mat on the ground like all other prisoners. They were offered the usual prison dinner of rice and rasam, which the elder Raju refused, sources said. 

The two Raju brothers were sent to Chanchalguda prison on Saturday on a 14-day judicial remand by a local court in Hyderabad.

They were produced at the residence of the 6th Additional Chief Metropolitan Magistrate by the state CID, investigating into financial irregularities of the firm after an 18-hour grilling session.

Both were arrested on Friday night.

The CID has registered a case against the duo under various sections of the Indian Penal Code (IPC) including 120-B (criminal conspiracy) and 478 (use of forged documents) and filed a 15-page remand report which includes confession of both brothers.

Tea would be served twice a day and there would be no television in the barrack. Only one newspaper would be provided in the entire admission block, the manual stated.

The Satyam fiasco: Complete Coverage

The company's chief financial officer Vadlamani Srinivas was the third top official to be arrested by the Andhra Pradesh CID police on Saturday after disclosure of financial bungling in accounting of the company by its founder Raju on January 7.

Meanwhile, the Inspector General of CB-CID V S K Kumudi, who led the search operation at Ramalinga Raju's residence in Jubilee Hills in the evening, told reporters that the police will move a petition in the court for the police remand of all the three accused.
 
"As it is essentially a case of financial fraud, the CFO can provide significant information," he said. He confirmed that the CID searched the residence of Vadlamani Srinivas as well as several offices of Satyam on Sunday.

"We have seized large number of documents and we will go through them," he said.
 
He denied the arrest of any other directors of the company.

On a question about the amount of money involved in the scam, he said, "It is a very big scandal and we are investigating it from various aspects". 

When asked whether Ramalinga Raju had admitted his involvement in the fraud, Kumudi said, "He has given it in writing to the whole world".

With additional inputs from PTI





   Email   |      Print   |   Get latest news on your desktop



Advertisement
Advertisement