The big thing was inflating the revenue of the company through fake invoices.
The Andhra Pradesh High Court on Tuesday granted bail to B Rama Raju, former managing director and brother of B Ramalinga Raju (the disgraced founder of Satyam Computer), and three others accused in the over Rs 7,600-crore (Rs 76 billion) Satyam scam.
They had approached the apex court against the August 30 order of Andhra Pradesh High Court which had rejected their bail pleas.
The accused has been lodged in Chanchalguda central jail.
The XXI Additional Chief Metropolitan Magistrate court allowed the petition of G Ramakrishna, who worked as vice-president (Finance) in the IT firm, to represent himself in the case.
Ramalinga Raju, his brother and Satyam's former managing director Rama Raju, ex-CFO V Srinivas, former partners of PricewaterhouseCoopers S Gopalakrishnan and T Srinivas along with Satyam Computer Services former employees G Ramakrishna, D Venkatapathi Raju and Ch Srisailam -- who are lodged at Chanchalguda Jail in Hyderabad were brought to the court, after their remand ended on Wednesday.
Tainted chairman of Satyam Computers B Ramalinga Raju and five others were chargesheeted by the Central Bureau of Investigation (CBI) on Thursday for allegedly filing false income tax returns resulting in a loss of Rs 126.57 crore (Rs 1.26 billion) to the company and shareholders.
The Central Bureau of Investigation, probing the Satyam financial fraud, arrested three employees including a top executive of the IT firm on Sunday, said CBI deputy-inspector general V V Lakshmi Narayana.
Sebi has also allowed Rama Raju and others, including Vadlamani Srinivas and G Ramakrishna, to inspect the documents available with the regulator on October 14 and has fixed the date for personal hearing on November 7. The other noticees in the matter include Ramalinga Raju and V S Prabhakara Gupta.
The bail petitions of Venkatpati Raju and Srisailam, arrested in connection with the multi-crore rupee Satyam fraud case, were filed in a local court in Hyderabad on Monday.
Charges against Raju and others include criminal conspiracy and forgery.
A special court on Tuesday set March 9, 2015, as the date for the verdict in the multi-crore accounting fraud in erstwhile Satyam Computer Services Limited.
Special court will announce judgement in Satyam case on Dec 23.
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
The latest penalties for insider trading follows an earlier disgorgement order passed by Sebi in July last year.
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
The 10 accused in the case include prime accused Satyam Computers founder and former chairman B Ramalinga Raju, his brother and Satyam's former MD B Rama Raju, ex-CFO Vadlamani Srinivas, former PwC auditors Subramani Gopalakrishnan and T Srinivas, Raju's another brother B Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam, and Satyam's former internal chief auditor V S Prabhakar Gupta.
All the 10 accused in the case, including prime accused Satyam Computers founder and former chairman B Ramalinga Raju and his brother and Satyam's former MD B Rama Raju, appeared in the court, as per its direction.
Satyam Case has not ended after court verdict, there's lot to unfold say insiders.
n February 2009, the CBI took over the investigation.
The tribunal posted the matter for further hearing in December, when it will decide whether to admit the pleas of the Raju brothers and others against Sebi order.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances