A major fire broke out inside the industrial area of Dombivli in Thane after a boiler exploded at the plant of a chemical company.
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.
The Supreme Court on Monday sought response of former ICICI Bank CEO-cum-MD Chanda Kochhar and her businessman husband Deepak Kochhar on a plea of the CBI challenging the interim bail granted to them by the Bombay high court in a loan fraud case. A bench of Justices Aniruddha Bose and Bela M Trivedi issued notice on the plea of the CBI and sought the response of the couple in three weeks.
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 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.
"Why are our jails overcrowded? Why is the the policy of remission being applied selectively?"
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.
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
Ramalinga Raju's letter to Satyam employees.
'We may see little softness in liquidity position after the stabilisation of the government.'
Indian airlines are running into losses.
While mostly corporates, including established names and little-known ones, went for the top-denomination bonds, there were also several individuals who bought multiple such bonds.
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.
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.
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.
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.
He founded India Abroad, the leading Indian-American newspaper.
At least 23 persons, including four children, were killed in a massive fire that swept through a game zone teeming with people enjoying a summer vacation outing in Gujarat's Rajkot city on Saturday evening, officials said.
Those joining Prime Minister Narendra Modi's council of ministers for the first time include three former chief ministers -- Shivraj Singh Chouhan (Madhya Pradesh), Manohar Lal Khattar (Haryana) and H D Kumaraswamy (Karnataka).
'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 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.
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.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
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.
Rajkumar Hirani has a mastery in bromance. In Dunki, Sukanya Verma doesn't feel that chemistry one bit, it's more like SRK babysitting a bunch of clueless kids running helter-skelter in a garden believing the grass is always greener on the other side.
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.
The game zone had fire safety equipment but action taken to control the fire was not sufficient, leading to the tragedy on Saturday, a senior police officer said on Sunday, a day after the tragedy.
Thackeray also declared the candidature of Satyajit Patil, Bharti Kamdi and Karan Pawar from Hatkanangale, Palghar, and Jalgaon constituencies, respectively.
Modi, on his maiden visit to the UNESCO World Heritage Site, first took the elephant safari in Mihimukh area of the Central Kohora Range of the park followed by the jeep safari inside the same range.
Police earlier claimed the three "Naxalites" were killed on a forested hill between Bhomra-Hurtarai villages under Koyalibeda police station limits on Sunday morning in an encounter with security personnel during an anti-Naxal operation.
A court allowed the Serious Fraud Investigation Office (SFIO), a central government body, to question Satyam Computer Services founder B Ramalinga Raju, former managing director B Rama Raju, former chief financial officer Srinivas Vadlamani and two Price Waterhouse auditors, S Gopalakrishnan and Srinivas Talluri, for six days from March 29.
Satyam Computer chairman B Ramalinga Raju can face seven years' imprisonment in addition to monetary penalties for forging accounts, breach of trust and misappropriating funds.
However, there were conflicting reports about the number of blasts as state ministers VN Vasavan and Antony Raju said there were two blasts, while Congress MP from Ernakulam, Hibi Eden, said there were multiple blasts according to one of his friends who attended the convention.
A local court on Friday extended the judicial remand of Satyam Computer founder B Ramalinga Raju, his brother Rama Raju, former CFO of the IT firm V Srinivas and two former auditors of PricewaterhouseCoopers by 14 days.
Dismissing the bail petitions of Raju brothers and V Srinivas, a local court in Hyderabad granted permission to the I-T department to examine and record the statement of B Ramaling Raju in the Rs 7,800 crore (Rs 78 billion) Satyam fraud case.
Closing five-and-a-half year long probe into the country's biggest corporate fraud, Sebi on Tuesday barred erstwhile Satyam Computer's founder B Ramalinga Raju and four others from markets for 14 years and asked them to return Rs 1,849 crore (Rs 18.49 billion) worth of unlawful gains with interest.
