CallHealth is promoted by Sandhya Raju, the daughter-in-law of B Ramalinga Raju, founder of the scam-hit Satyam Computers.
In this extract from The Satyam Saga, Business Standard looks into the origins of EMRI, the allies Raju assembled and the roots of his philanthropic works -- as well as the problems that quickly grew to endanger his vision.
Ramalinga Raju, his brother Rama Raju and six other accused were produced before the in-charge judge of XVI additional chief metropolitan magistrate, subsequent to which their judicial custody was extended till June 10. Satyam accused are lodged in Hyderabad's Chanchalguda jail.
Months before Satyam Computer Services founder B Ramalinga Raju made disclosures about committing fraud, authorities in the US had initiated an investigation into the company's dealings with Syria, Sudan, Cuba and Iran, identified by the US government as state sponsors of terrorism, and subject to US economic sanctions and export controls.
The Central Bureau of Investigation on Thursday obtained specimen signatures of former Satyam Computer chairman B Ramalinga Raju and four others accused in connection with the multi-crore rupee fraud in the IT company.
A local court on Saturday extended the judicial custody of Ramalinga Raju, his brother and former managing director Rama Raju and former chief financial officer Vadlamani Srinivas till February 21.
The scam-hit Satyam Computer founder B Ramalinga Raju, brother Rama Raju and ex-chief financial officer Srinivas are in 'protective custody', former Securities and Exchange Board of India chief M Damodaran said in Ahmedabad on Saturday.
On January 7, 2009, B Ramalinga Raju confessed to orchestrating India Inc's biggest fraud.
SRSR Holding is owned by Ramalinga Raju's sibling, Suryanarayana Raju, whose house was also searched by the police with regard to the Rs 7,800 crore (Rs 78 billion) accounting fraud in Satyam.
A local court in Hyderabad on Thursday extended the police custody of disgraced former chairman of Satyam Computer B Ramalinga Raju by one more day. The 6th Additional Chief Metropolitan Magistrate Ramakrishna also extended the police custody of former chief financial officer Vadlamani Srinivas by one more day.
Andhra Pradesh Chief Minister Y S Rajasekhara Reddy on Friday said the CB-CID is independently probing the financial fraud in Satyam Computer, as it appeared likely that its founder Ramalinga Raju would be arrested.
The judicial remand of former Satyam chairman B Ramalinga Raju and seven other accused was extended by 14 days on Wednesday by a local court in Hyderabad.
ED filed a bulky prosecution investigation report before the XXI Additional Chief Metropolitan Magistrate cum Special Sessions Judge here today seeking to "prosecute the accused for the offence of money laundering" under the Prevention of Money Laundering Act.
The trial in Satyam fraud case had concluded in second half of June before the special court, which examined 216 witnesses and marked 3,038 documents during the course of the hearing.
n February 2009, the CBI took over the investigation.
A special court on Tuesday set March 9, 2015, as the date for the verdict in the multi-crore accounting fraud in erstwhile Satyam Computer Services Limited.
The big thing was inflating the revenue of the company through fake invoices.
Raju and nine others accused, including his two brothers, are currently on bail in a case related to fudging of Satyam accounts in 2009.
Mahindra Satyam merged with Tech Mahindra, creating a new entity with revenues of $2.7 billion.
The Satyam saga, which rattled India over five-and-a-half years ago as its biggest corporate fraud, has turned out to be a case of financial mis-statements to the tune of approximately Rs 12,320 crore, as per Sebi's probe.
Get worried when a company proposes something unusual and exit if you are not sure.
The Andhra Pradesh High Court on Tuesday stayed a provisional order of Enforcement Directorate attaching Rs 822 crore (Rs 8.22 billion) deposit belonging to Mahindra Satyam in a money laundering case involving former Satyam Chairman B Ramalinga Raju and others.
In its glory days, Satyam was the lifeline of Hyderabad.
Judge ruled that ther lawsuits failed to allege that the ex-directors recklessly failed to discover the fraud.
The company has admitted it fudged data so that it could launch its products in the United States. It has now paid $500 million as a penalty to settle the case.
The final arguments in the multi-crore accounting "fraud" in Satyam Computers commenced on Wednesday in a local court with the prosecution starting its arguments in the case.
The 56-year-old Raju admitted to fraud in January 2009 in the IT major.
Satyam's employees had to undergo mental trauma, job uncertainty and financial problems, after many were forced to leave.
Mahindra Satyam (formerly Satyam Computer Services Limited) on Sunday said that a group of investors led by Aberdeen Asset Management have claimed damages of over $150 million (approximately 750 crore) from the company for the losses they suffered post the confession of accounting frauds by its founder B Ramalinga Raju in 2009.
Of the 10 accused in the case, B Suryanarayana Raju, who is Raju's brother, and T Srinivas, a former auditor of PricewaterhouseCoopers, had been granted bail by different courts earlier.
The tribunal posted the matter for further hearing in December, when it will decide whether to admit the pleas of the Raju brothers and others against Sebi order.
The latest penalties for insider trading follows an earlier disgorgement order passed by Sebi in July last year.
Last year, Tech Mahindra and Mahindra Satyam announced their intention to merge aming to create a $2.4 billion entity.
Byrraju Foundation, the non-governmental organisation set up by Satyam Computer Services founder B Ramalinga Raju and his family, was left orphaned in January 2009.
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
Keep your nerve and don't exit at once. For all you know, there could be a turnaround story.
Custody and probe still on after 15 months, 800 witnesses, 160,000 pages of evidence so far.
Six months of investigation, mostly through telephone-tapping, 12 months of analysis of evidence and prosecution, 11 days of deliberation and, finally, a conviction.
The XXI additional chief metropolitan magistrate BVLN Chakravarti after dismissing the petitions of the accused seeking discharge from the case, personally inquired if the accused committed the crime.
"After Ramalinga Raju made his confession, we encouraged our leaders to meet with their teams hourly and then several times a day," says Ed Cohen.
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