After being a part of the Telugu hit, Sita Ramam, Mrunal Thakur signs another.
CBI director Ashwani Kumar said the Satyam fraud was unique, as it was the founder, and not an outsider, who is the accused. According to sources, the fraud involves an amount that is much bigger than the Rs 7,800 crore (Rs 78 billion) estimated originally. It could be close to Rs 10,000 crore (Rs 100 billion) based on over 7,000 fake invoices and forged documents retrieved by the agency.
The bench said most of the allegations in the corruption case registered by the CBI against Sisodia were "hearsay", based on the statements made by approvers and would not pass scrutiny before the trial court without any concrete material.
The court had earlier asked Raju's lawyers to file an affidavit on whether the Satyam founder can be examined through a questionnaire.
Sebi on Tuesday restrained two Brightcom Group officials, M Suresh Kumar Reddy and Narayan Raju, from holding any managerial position in the company or its subsidiaries until further orders. Reddy is the promoter-cum-chairman and MD of Brightcom Group Ltd (BGL) while Raju is the chief financial officer. Besides, the regulator also banned Reddy from the securities market until further orders.
The 56-year-old Raju admitted to fraud in January 2009 in the IT major.
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.
According to sources, the family has pledged majority of its shareholding and real estate assets to various institutions. Two institutions, Maharashtra government's financial arm, Sicom, and IFCI, confirmed that Maytas promoters had pledged shares around a year ago to raise resources. IL&FS too has similar exposure to Maytas, said sources. However, this could not be confirmed.
A bench of Justices BR Gavai and Sandeep Mehta, which had allowed anticipatory bail to Surat resident Tusharbhai Rajnikantbhai Shah in a cheating case, got irked when it was informed that the businessman was remanded in police custody.
The bodies were charred beyond recognition. The DNA samples of the bodies and the victim's relatives have been collected for identification of the deceased, they said.
"Why are our jails overcrowded? Why is the the policy of remission being applied selectively?"
Mahindra Satyam merged with Tech Mahindra, creating a new entity with revenues of $2.7 billion.
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.
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.
Nothing is going to change in a hurry unless attitudes change and punishments are speedy and fair, notes Ramesh Menon.
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.'
The high court of Jharkhand on Friday granted bail to former chief minister Hemant Soren in a money laundering case linked to a land scam.
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".
Bharatiya Janata Party's National Democratic Alliance partners have got five cabinet ministerial berths in the third term of Prime Minister Narendra Modi, as against none in the outgoing government, given the party's dependence on allies for a majority in the Lok Sabha.
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.
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.
A major fire broke out inside the industrial area of Dombivli in Thane after a boiler exploded at the plant of a chemical company.
Former Congress leader Jagdambika Pal on Wednesday joined the Bharatiya Janata Party along with stand-up comedian Raju Srivastava.
The Enforcement Directorate on Wednesday told the Supreme Court that the trial court judge was in a "hurry" and did not afford a reasonable opportunity to the prosecutor to oppose Delhi Chief Minister Arvind Kejriwal's bail in a money laundering case linked to the alleged excise scam.
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.
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.
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.
'We may see little softness in liquidity position after the stabilisation of the government.'
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.
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 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.
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.
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.
