Amid speculation over his whereabouts, B Ramalinga Raju, who stepped down as chairman of Satyam Computer after admitting to financial irregularities, is believed to have left for the United States in connection with a court case.
The Raju brothers, along with Satyam's former CFO Vadlamani Srinivas, are in judicial custody awaiting charges to be filed against them. On January 7, Raju disclosed that he had falsified profits and created fictitious assets in the company, which is now being administered by a government-appointed board.
Satyam Computer's $75 million Directors and Officers insurance is unlikely to provide a cover against claims arising out of irregularities committed by the company's founder B Ramalinga Raju.
A bench of Justices B R Gavai and Sandeep Mehta asked the AIIMS director to constitute the board and submit a report to it in two weeks.
A day after Ramalinga Raju announced his departure from Satyam Computer after admitting to the country's biggest ever corporate fraud, a website by his name, launched supposedly by his fans last week, vanished into oblivion on Thursday.
A local court on Thursday dismissed the petition filed by Satyam Computers former MD Rama Raju and its ex-CFO Vadlamani Srinivas, seeking permission to use laptops in jail.
For the whole world B Ramalinga Raju may be a villain, after the startling revelation of fraud in the company he founded, but for residents of his native village in West Godavari district, he is still a good Samaritan.
Years after the foreign media wondered if Americans should be afraid of Ramalinga Raju more than Osama Bin Laden beacuse of jobs they lost to India, experts said on Wednesday the fear seems to have come true, although for a different reason. While the context has changed completely, the level of financial wrongdoing revealed today by Raju at Satyam makes him a feared man in the corporate world, another analyst said.
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'I was completely in awe of him. After the shot was okayed, I would quickly run back to my chair and sit quietly till I was called again.'
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Ramalinga Raju founded Satyam in 1987.
Satyam is still to log out Raju, his brother and other members of his top management team, despite his quitting as chairman on January 7 after admitting to a Rs 7,800-crore (Rs 78-billion) financial wrongdoing. His brother Rama Raju, who quit on the same day and is also in the jail, is still being presented as the managing director and member of the board of the scam-tainted company on its official website.
A bench of Justices B R Gavai and K V Viswanathan noted that Kavitha has been in custody for around five months and the probe against her by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) was complete in these cases.
A local court on Thursday allowed the Central Bureau of Investigation (CBI) to conduct lie-detector and brain mapping tests on Satyam Computer founder B Ramalinga Raju and two others to help unravel the multi-crore accounting scam in the IT firm.
Amazon Prime Video has announced a huge number of assorted Web series and movies, and the slate sure looks interesting.
The Hinduja Group chairman, who was in Davos to participate in the World Economic Forum, however, noted that the incident might not have much impact on the reputation of India Inc in the eyes of foreigners, who are more used to such scams. Raju's confession not only shocked India Inc, but investors all over the world. Such type of wrongdoings are more prevalent in the western world and foreigners are used to this kind of happenings, Hinduja said.
Justice P Swaroop Reddy dismissed the three revision petitions filed against the lower court's order on police custody, saying that there was 'no need for the high court's intervention at this juncture.' The 6th additional chief metropolitan magistrate had, on January 17, ordered Raju, his brother Rama Raju and Satyam's former CFO Vadlamani Srinivas to be sent to police custody for four days till January 22.
The authorities have been witnessing significant pressure over the issue and this might be the reason for their expected move towards arresting Raju
The withdrawal of the candidature by DPAP leaders on the last day on August 30 is seen as a boost to the NC-Congress alliance.
Ramalinga Raju's letter to Satyam employees.
Human Resources and Development Minister M M Pallam Raju, who was minister of state for defence when the deal for procuring 12 choppers from Italian firm Finmeccanica was signed in 2010, Wednesday said he can "vouch for the integrity" of former Indian Air Force chief S P Tyagi, whose name has surfaced in the scam.
Sebi said it was constrained to approach the apex court for urgent relief related to the most serious financial scam that had large-scale national and international ramifications. A bench headed by Chief Justice K G Balakrishnan allowed Sebi to mention the matter on Tuesday after solicitor general G E Vahanvati and counsel Pratap Venugopal submitted the request on behalf of Sebi.
Indian airlines are running into losses.
In a setback to the West Bengal government, the Supreme Court on Monday dismissed its plea challenging a Calcutta high court order transferring to the Central Bureau of Investigation (CBI) the probe into the January 5 attack on an Enforcement Directorate (ED) team in Sandeshkhali, allegedly by supporters of the now suspended TMC local strongman Shahjahan Sheikh.
Andhra Pradesh High court on Monday reserved orders on the bail petition filed by B Ramalinga Raju, the prime accused in multi-crore Satyam Computers accounting scam.
The stake of B Ramalinga Raju's family in Satyam Computer Services may have come down to just around four per cent from 8.61 per cent of the equity of Rs 134.10 crore as at the end of March 2008.
Former national selector Venkatapathy Raju said the Board of Control for Cricket in India must address the issue of player burn-out and should have a back-up team of bowlers.
Punjab, starting the penultimate day on 73/3 and needing 144 more runs, crumbled under pressure from Sindhu's relentless spin and Jayant Yadav's precise off-spin (3/35 in 10.4 overs), collapsing well before lunch and handing Haryana their second outright win in four matches.
He founded India Abroad, the leading Indian-American newspaper.
The court wants to examine all the accused, including B Ramalinga Raju, in regard to allegations mentioned against them by the CBI in two separate chargesheets before commencing the trial.
'If you look at the average age of all our candidates, you will notice that their average age is between 35 and 40. It is a kind of revolution that the MNS is bringing in Maharashtra.'
Dulquer may be good looking but how long can you watch him with a cigarette in his mouth, giving that deadpan expression, wonders Divya Nair.
The Supreme Court on Tuesday questioned the CBI over not objecting to repeated extension of the two-week interim bail granted in January this year to former ICICI Bank CEO-cum-MD Chanda Kochhar and her businessman husband Deepak Kochhar in a loan fraud case. A bench of Justices Aniruddha Bose and Bela M Trivedi asked Additional Solicitor General SV Raju, appearing for the CBI, as to why the probe agency did not resist repeated extension of interim bail granted to them by the Bombay high court on January 9. "This order is of January 9 and interim bail was granted for only two weeks. Why have you not resisted? Why are you permitting it to continue for such a long period?
The family of B Ramalinga Raju, the main accused in the multi-crore fraud at Satyam Computer, has approached a local court seeking a direction to de-freeze bank accounts and return seized electronic items.
'I got to know things early in life.' On Childrens' Day, one of Hindi film industry's most memorable child -- Raju Shrestha - lets us into his life with a twinkle in his eye.
The CBI has charged Satyam founder B Ramalinga Raju, his brother B Rama Raju and eight others with creating fictitious customers and siphoning off Rs 430 crore (Rs 4.30 billion) from the IT firm.
Former Satyam executives Rama Raju and Vadlamani Srinivas, who are in judicial custody in connection with multi-crore rupee accounting fraud, have filed a petition in a local court seeking permission to use laptops inside jail.
Under the CDR package, the company has sought a debt-restructuring of Rs 2,800 crore, including Rs 1,800 crore for Maytas Infra and another Rs 1,000 crore for various special-purpose vehicles. Sources say the investment companies may have diverted the Rs 400 crore to Satyam Computers. "As per the account trail, this loan of Rs 400 crore was finally given to Satyam Computer, routing through these investment arms," sources close to the CDR package said.
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.
Fans just can't keep calm as Shah Rukh Khan's new release Dunki hits theatres on December 21.
