It's not a failure, but purposeful cheating. Thereby, it is a criminal breach of trust, which can attract punishment under the Indian Penal Code (IPC).
A regular visitor to the the Small Industries Service Institute's library in Vijayawada, where he was brought up, Raju browsed through various books and business journals and zeroed in on an idea that required more thought-processing and innovation and less investments.
The ED had arrested Kejriwal on March 21, hours after the high court refused to grant him protection from coercive action by the federal anti-money laundering agency.
The Gujarat high court on Monday said it does not have faith in the state machinery which gets into action only after innocent lives are lost, as it pulled up the Rajkot civic body over the purported lapses in functioning of the game zone facility where a massive fire killed 27 persons.
Raju Srivastav says, "I have been approached by Uttar Pradesh Congress Committee President Rita Bahuguna to contest from Allahabad-Phulpur and she has also briefed me about the demography of the constituency." "I was shocked when I first heard about the offer. I thought it was another joke, better than the ones I crack. But I was told that it was a serious offer and I should consider it seriously," the 45-year-old stand-up comedian told PTI in Mumbai on Sunday.
The ruling Bharatiya Janata Party-Shiv Sena-Nationalist Congress Party alliance and the opposition Maha Vikas Aghadi are facing multiple problems in Lok Sabha seats like Sangli, Madha and Satara in western Maharashtra due to political dynasties, old rivalries and one-upmanship, prompting a flurry of meetings before five phase polls begin in the state on April 19.
Breaking his silence on the embarrassing developments over the last two weeks, Raju said in an open letter to employees that 'please be assured that the Board and the leadership team are doing everything that's possible to get Satyam back on track'.
The CBI charges in the accounting fraud pertain to conspiracy, cheating, forgery, falsification of records and causing disappearance of evidence. There is no charge of misappropriation of funds. Of the Rs 715 crore made, Ramalinga Raju got Rs 27.91 crore and his brother and Satyam's former managing director, B Rama Raju, got Rs 26.68 crore, in the form of gifts from family, said the CBI. Besides, the Satyam founder 'offloaded the shares and received Rs 26,67,97,198.'
In an open defiance, Union Minister M M Pallam Raju on Wednesday questioned the government's hurry to push the Telangana bill and said Prime Minister Manmohan Singh's disapproval of disruptions in Parliament was not "fair".
Satyam founder Ramalinga Raju was honest at least about his dishonest dealings, with CBI finding that balance sheets were inflated by Rs 5,020 crore (Rs 50.20 billion) almost the same amount disclosed by the former IT posterboy.
The Nagarjuna group incorporated NFL as an NBFI and accepted fixed deposits with a minimum amount of Rs 5,000 for periods of 12, 24, 36 and 54 months by promising an interest rate of 14, 14.25, 15.5 and 18.5 per cent respectively. It collected deposits of Rs 98.3 crore from 85,160 depositors for the year 1997-98. Deposits of 16,122 depositors amounting to Rs 23.02 crore matured on December 31, 1999. But the company defaulted on repayment of the matured deposits.
If Tamil Nadu voters preferred the DMK combine, it owed to the Modi-Annamalai combo's ideological battle which often crossed the line of political decency and also challenged 'Tamil pride', argues N Sathiya Moorthy.
'That's the beauty of Mumbai cricket. Nobody interferes with the running of the cricket, only the cricketers are allowed to run the cricket.'
The Supreme Court on Wednesday granted bail to former Mumbai police officer Pradeep Sharma, who was arrested in connection with the Antilia bomb scare case and the killing of businessman Mansukh Hiran.
Despite its success, EMRI is as much under a cloud today as its founder Ramalinga Raju, with a public interest litigation in the Supreme Court questioning the way he got 12 state governments to implement it and reimburse 95 per cent of its expenses. The key issue is that the states entrusted Rs 18 billion annually (if 10,000 vans are to run in all the states by next year) to a private company without going through a transparent selection procedure.
Raju need not fear ostracism once he's out - society will embrace him. Size is a national obsession. Indians have stashed away more than anyone else -- a noble $1,456 billion -- in Swiss banks. We thrive on superlatives. Even Jawaharlal Nehru rejoiced in the Suratgarh farm being "the biggest farm in Asia".
The Fourteenth Additional Chief Metropolitan Magistrate has granted permission to the Enforcement Directorate, a central government wing, to record the statements of the accused in the Satyam scam from June 9 to 16.
There has been a lot of talk lately on a sequel to S S Rajamouli's international blockbuster, RRR.
Former Congress leader Jagdambika Pal on Wednesday joined the Bharatiya Janata Party along with stand-up comedian Raju Srivastava.
The Delhi high court on Wednesday refused to grant interim relief to Chief Minister Arvind Kejriwal, arrested by the Enforcement Directorate (ED) in a money laundering case linked to the excise policy 'scam', saying the matter raises important issues that cannot be 'summarily' decided without seeking the agency's stand.
The Supreme Court on Wednesday adjourned till January 10 the hearing on the bail plea of former Jawaharlal Nehru University (JNU) student Umar Khalid in a case lodged under anti-terror law Unlawful Activities (Prevention) Act (UAPA) over his alleged involvement in the conspiracy behind the northeast Delhi riots of February 2020.
After making Ramalinga Raju and the iconic IT firm he founded the butt of jokes, a bunch of trigger-happy IT whiz-kids have created a game 'Nail The Thief' where players are asked to hit the tainted Satyam founder with rotten eggs and win an iPod! Within days of its launch, the game has already been played more than 100,000 times, with a few playing it over and over again, as per the information on the website of the game.
Following is India's schedule at the Asian Games in Hangzhou, on Friday, October 7.
'If equities perform well in a year, withdraw money from equities. If the equity market is down, shift withdrawal to the debt portion.'
A local court on Friday adjourned the case of examination of former Chairman of Satyam Computers B Ramalinga Raju through a questionnaire and nine other accused in the multi-crore accounting fraud in the IT firm to July 26.
A Supreme Court ruling that termed narco and polygraph tests on accused persons "illegal and a violation of fundamental rights" if conducted without their consent could turn out to be a boon for B Ramalinga Raju.
Five people in Andhra Pradesh's East Godavari district were killed after a jeep that was part of a convoy of Minister of State for Defence M M Pallam Raju hit an autorickshaw on Thursday afternoon.
'Whenever I prepare a joke for my performances I always have the family in mind: Would any member of the family feel offended by my joke?' 'If the answer is yes, I immediately drop it.'
Following is India's schedule at the Asian Games in Hangzhou on Wednesday, October 4.
A bench of Justices Sanjiv Khanna and SVN Bhatti, which reserved its verdict on two separate regular bail pleas of Sisodia in the corruption and money laundering cases, told the ED it cannot go by the assumption of bribe having been paid, and whatever protection an accused enjoys under law needs to be granted.
India's schedule at the Asian Games in Hangzhou on Monday, October 2.
'The last four-five years have been a bit of a ride for me and my family.'
The government said on Wednesday that Satyam Computer Services' disgraced founder Ramalinga Raju created a network of about 300 companies and diverted funds from one company to another in a complex but carefully planned process. Speaking to Karan Thapar on the CNN-IBN news channel, Gupta said, "Our information is that there was a network of almost 300 compnaies and funds were diverted from one company to (another) and then to (a) third."
In the country's biggest corporate fraud involving about Rs 8,000 crore (Rs 80 billion), iconic IT company Satyam was today hurtling towards disaster following the shocking disclosure of accounts fudging by its founder Ramalinga Raju, who then quit as chairman - leaving an uncertain future for the company and its 53,000 employees.
Satyam Computer on Monday sank deeper into a crisis with two more directors quitting the board and the company announced that lenders were possibly selling promoters' equity that is entirely pledged with them.
With communal clashes claiming six lives in parts of Haryana close to Delhi, the Supreme Court on Wednesday ordered enhanced deployment of security personnel in sensitive areas and a crackdown on hate speech, but refused to stop the proposed rallies by the Vishwa Hindu Parishad and Bajrang Dal in the National Capital Region.
Weeks after a Nicaragua-bound plane carrying Indians was grounded in France and later sent back to India, the Gujarat police have booked 14 agents on the charge of human trafficking for trying to send more than 60 persons from Gujarat to the US illegally via Mexico border, a senior official said.
'For the first time ever it has come below 1 per cent, at 0.97 per cent.'
"A person cannot be punished twice for the same offence," a committee member said, adding that even BJP members took a "soft view" of the issue and were in favour of revocation of Chowdhury's suspension.
Mynampati, who is now being questioned by the team of market regulator SEBI, got a total package of over Rs 3.5 crore (Rs 35 million) during the year ended March 2008, while founder and Chairman had to contend with just about one fifth.
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