A local civil court in Hyderabad has issued an interim stay restraining Netflix from airing its web series Bad Boy Billionaires-India on a petition filed by B Ramalinga Raju who was convicted in the multi-crore accounting scandal of Satyam Computer Services Limited. The XXV Additional Chief Judge B Prathima, while issuing notices to Netflix Inc in USA, Netflix Entertainment Services India LLP and the nodal officer, department of electronics and information technology, posted the matter for further hearing on November 18 when the plea came up on Tuesday.
Disgraced former chairman of Satyam Computer Services B Ramalinga Raju late Friday evening surrendered before Andhra Pradesh's Director General of Police S S P Yadav, according to a police spokesperson.
B Ramalinga Raju, the prime accused in the Satyam multi-crore accounting scam, is likely to surrender before a local court on November 10, the deadline set for him by the Supreme Court, after it cancelled his bail.
A team of doctors led by Dr Seshagiri Rao, head of cardiology at the Nizam's Institute of Medical Sciences (Nims), conducted the angioplasty. Angioplasty is a technique in which the obstructed blood vessel is widened. According to Dr Rao, two stents have been put in. His condition is stable.
Disgraced former chairman of Satyam Computers B Ramalinga Raju on Wednesday surrendered before a local court trying the nations biggest corporate fraud, allegedly to the tune of Rs 14,000 crore (Rs 140 billion).
Satyam Computer's tainted founder B Ramalinga Raju on Wednesday secured bail from the Andhra Pradesh high court, over 17 months after his arrest on charges of allegedly fudging the IT company's accounts.
The XIV additional chief metropolitan magistrate extended the remand of Satyam founder Ramalinga Raju, his brother Rama Raju, ex-CFO Vadlamani Srinivas, former auditors of Price Waterhouse S Gopapalakrishnan and Talluri Srinivas, and three former employees of the firm till August 5. The accused, who have been lodged in the Chanchalguda jail, were produced before the magistrate.
The Supreme Court has granted bail to Satyam's founder B Ramalinga Raju in multi-crore accounting fraud case.
B Ramalinga Raju, the tainted founder of Satyam Computer, on Tuesday made a dramatic appearance before a local court, which is trying India's largest corporate fraud running into about Rs 14,000 crore (Rs 140 billion).
Like a dutiful Indian wife she was unflinching in her support for her husband, Satyam founder B Ramalinga Raju. And on Wednesday, she again showed her unwavering faith by bailing him out.
Satyam's founder chairman B Ramalinga Raju, who was on Tuesday chargesheeted by the Central Bureau of Investigation in the accounting fraud case involving thousands of crores of rupees, may face life imprisonment if convicted under Section 467 of the IPC.
Satyam Computers founder B Ramalinga Raju, who is in jail for the past eight months in connection with a Rs 8,000 crore corporate fraud, suffered a massive heart attack and was admitted to a hospital on Monday night, jail and police sources said. Raju, who will turn 55 on September 16, was transferred to the Nizam Institute of Medical Sciences hospital from Chanchalguda jail, where he is under judicial custody on charges including fraud, forgery, cheating, embezzlement.
It took the man from Bhimavaram over two decades to become the posterboy of India's Information Technology industry and less than two weeks to turn into the rogue who personifies all that is defective with the country's outsourcing industry. The former entrepreneur icon's plans started falling apart when he tried to acquire two companies promoted by his family for $1.6 billion.
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.
Disgraced Satyam Computers founder B Ramalinga Raju, the prime accused in the multi-crore financial fraud in the IT firm, on Thursday moved the Supreme Court pleading that he be released on bail.
Former Chief Financial Officer Vadlamani Srinivas has also filed a bail plea in the court.
Ramalinga Raju, former chairman of Satyam Computers, who last year confessed to have inflated his company's assets by over $1 billion, was declared a pauper by a New York court exempting him from paying court costs.
Scam tainted B Ramalingham Raju to have tougher times ahead.
Charges against Raju and others include criminal conspiracy and forgery.
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.
Ramalinga Raju's letter to Satyam employees.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
Srinivas Vadlamani, chief financial officer of Satyam Computer Services, was remanded to judicial custody till January 23 by the 6th Metropolitan Magistrate on January 11.
SRSR Holding is owned by Ramalinga Raju's sibling, Suryanarayana, whose house was also searched by the police with regard to the Rs 7,800 crore (78 billion) accounting fraud in Satyam.
By giving himself over to the police, Satyam Computer's former chairman B Ramalinga Raju may have pre-empted an extradition to the United States, where several lawsuits have been filed against him, says a section of legal experts.
Ramalinga Raju's lawyer S Bharat Kumar told the media after his meeting with the Sebi officials that he had sought three day's time for Raju's appearance but they granted time only till tomorrow
On February 17, 2009, Satyam case was handed over to CBI.
Setting aside the ban on PwC, which is one of the Big Four global accounting firms, SAT said only the national auditors watchdog ICAI (Institute of Chartered Accountants of India) can take any action against its members and fraud cannot be proved on the basis of negligence in auditing.
The Enforcement Directorate in October last year had filed the complaint against Raju and 212 others, including 166 companies, before the XXI Additional Chief Metropolitan Magistrate Court cum Special Sessions Judge here for allegedly laundering funds under a 'corporate veil' to perpetrate the accounting scam that rocked the business world in 2009.
Khurshid said SFIO's investigation was limited to alleged corporate law violations by Satyam founder B Ramalinga Raju, and others.
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.
The government is awaiting reports from the ED and the US agency before deciding whether or not accounts of the Ramalinga Raju family-promoted Maytas firms need restating.
Prime accused B Ramalinga Raju has been avoiding court proceedings since September citing health reasons.
On the basis of the complaint filed by Leena Mangat, the CB-CID had filed an FIR on Jan 9, 2009.
The special court dealing with multi-crore Satyam scam case on Monday adjourned the examination and hearing of charges of Satyam accused to July 29.
Mahindra Satyam has reportedly requested Khurshid to take up the issue of taxation with the Finance Ministry as it would be unjust to tax income that was never there.
A Hyderabad court on Wednesday posted the multi-crore Satyam Computer fraud case to February 17 for hearing on framing charges against the prime accused B Ramalinga Raju and nine others.
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.
Things went from bad to worse since December 2008 for people who purchased bungalows, villas and apartments at Maytas Hill County, promoted by Maytas Properties Limited (MPL) -- the company run by B Rama Raju (Jr), the younger son of Satyam Computer Services founder and former chairman B Ramalinga Raju.
CallHealth is promoted by Sandhya Raju, the daughter-in-law of B Ramalinga Raju, founder of the scam-hit Satyam Computers.
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