B Ramalinga Raju

  • Court likely to fix date for Satyam verdict on June 23 June 18, 2014

    New Delhi: The special CBI court here is likely to fix the date for pronouncement of verdict in the case related to accounting fraud in the erstwhile Satyam Computer Services Ltd on June 23. Satyam founder and former chairman B Ramalinga Raju is the prime accused in the case. "The...
  • Ramalinga Raju's wife, relative sentenced for tax evasion January 9, 2014

    Hyderabad: A court in Hyderabad on Thursday sentenced 80 directors, including relative of Satyam founder B Ramalinga Raju, belonging to firms affiliated to erstwhile Satyam Computers to one year jail in an income tax evasion case, while four women directors got six months each. The four women sentenced by the Economic...
  • MSat-Tech Mahindra merger gets AP High Court approval June 11, 2013

    Hyderabad: The Andhra Pradesh High Court on Tueday approved the merger of Mahindra Satyam (MSat) with Tech Mahindra while dismissing the petitions of some shareholders seeking to stall the proposal in its current form so as to safeguard their financial interest. The Court said, however, that the investigations into the alleged...
  • Satyam ex-directors win ruling in US class-action suit January 3, 2013

    New York: A US federal judge dismissed claims against seven former directors of Satyam Computer Services Ltd in shareholder lawsuits stemming from the massive fraud at the heart of India's largest corporate scandal. US District Judge Barbara Jones in New York ruled on Wednesday the lawsuits failed to allege that...
  • SC grants bail to ex-Satyam CEO Ramalinga Raju November 4, 2011

    New Delhi: The Supreme Court granted bail to former Satyam CEO B Ramalinga Raju and two others on Friday. Raju has been in jail for two years and eight months. He was arrested in connection with the multi-crore accounting fraud involving Satyam. The apex court had on October 12 granted...
  • Satyam case: SC notice to CBI on Raju's bail October 21, 2011

    New Delhi: Satyam founder B Ramalinga Raju and his brother B Rama Raju, arrested in connection with the multi-crore accounting fraud involving the IT firm, will have to remain in jail during Diwali as the Supreme Court on Friday refused to give them interim relief saying they have delayed in...
  • Satyam case: CBI seeks more time to complete trial September 18, 2011

    New Delhi: Unable to stick to the time frame to complete proceedings in the trial against former Satyam chief B Ramalinga Raju and nine others accused in the multi-crore Satyam accounting fraud case, CBI has approached the Supreme Court seeking more time to complete the task. In an interim application filed...
  • Satyam: Raju, 5 others move lower court for bail August 10, 2011

    Hyderabad: Satyam scam accused B Ramalinga Raju and five others on Wednesday moved their bail petitions in the metropolitan sessions judge court following a direction from the Andhra Pradesh High Court. The bail petitions are likely to come up for hearing once the documents are scrutinised and kept for listing. The...
  • MahSatyam settles SEC charges for $10 million April 6, 2011

    Washington: US market regulator SEC on Tuesday said that India's fraud-hit Satyam Computer Services, now Mahindra Satyam, has agreed to pay $10 million to settle charges related to the accounting scam by its promoter B Ramalinga Raju. It also said five India-based affiliates of Price Water House Coopers (PWC), auditors to...
  • SC notice to Raju on plea to cancel his bail October 1, 2010

    New Delhi: The Supreme Court on Friday sought a response from Satyam Computer's disgraced founder, B Ramalinga Raju, on the CBI's plea for cancellation of his bail in the multi-crore rupee accounting scam. A bench comprising Justices Dalbeer Bhandari and Deepak Sharma has issued a notice to Raju on the CBI...
  • SC issues notice to Satyam founder's brother on bail August 30, 2010

    New Delhi: The Supreme Court on Monday issued notice to B Rama Raju and four others involved in Satyam scam as to why their bail should not be cancelled. Rama Raju is the brother of Satyam founder and chairperson B Ramalinga Raju. The apex court bench of Justice Dalveer Bhandari and...
  • Satyam founder Raju appears in court August 26, 2010

    Hyderabad: Satyam scam accused Ramalinga Raju speaks for the first time after being out on bail. He appears at local court, accompanied by a doctor in Hyderabad on Thursday. This is his second appearance after being granted bail by Andhra High Court. Raju hasn't made any appearance for questioning in court...
  • Docs prolonging Raju's treatment to delay trial: CBI March 11, 2010

    Hyderabad: CBI, probing the multi-crore financial fraud in Satyam Computers, Thursday alleged doctors were prolonging the treatment of the company's former chairman B Ramalinga Raju only to delay the trial in the case. Raju, the prime accused in the scam who is suffering from Hepatitis-C is currently undergoing treatment at the...
  • Mahindra Satyam settles US law suit with $70 mn December 9, 2009

    Hyderabad: Mahindra Satyam on Wednesday said it had settled a US lawsuit filed by Updaid, a client of erstwhile Satyam Computer Services, for $70 million. "The board approved a settlement agreement between the company and Upaid Systems," Mahindra Satyam said in a statement. "The company will make first payment in the amount...
  • Satyam trials to begin in 3-4 weeks: paper November 27, 2009

    New Delhi: A court will begin trials for the multi-billion accounting fraud at Satyam Computer Services in three to four weeks, the Mint newspaper reported on Friday, citing an unnamed official at India's federal investigator. Satyam, since renamed Mahindra Satyam, was hit by the country's largest corporate scandal when...
  • Satyam pulls out of $75-mn Australian project September 11, 2009

    Canbera: Mahindra Satyam has pulled out of a $75 million software development project that the disgraced Satyam founder had promised to set up in Australia's Geelong city, media reports said on Friday. Satyam's President of Corporate affairs, Sujit Baksi formally conveyed the decision to the government of Victoria state through a...
  • Satyam ex-boss Raju stable, still in ICU September 9, 2009

    Hyderabad: Disgraced founder of Satyam Computer Services Ltd B Ramalinga Raju remained in the intensive care unit of a government-run hospital on Tuesday after he suffered a cardiac arrest in a jail in Hyderabad. His condition is said to be stable. Raju, who was in Chanchalguda Jail along with seven other...
  • Satyam's Australia chief quits: Report May 28, 2009

    Melbourne: IT firm Satyam Computer's Australia chief Deepak Nangia has quit from his high profile role, in pursuit of greener pastures, a media report says. The local head of IT company Satyam Computer services in Melbourne, Nangia was quoted saying by The Australian, "I left the company about three weeks...
  • Raju's sons move court to de-freeze account May 26, 2009

    Hyderabad: 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 get back seized electronic items. In two separate petitions filed in the XIV Additional Chief Metropolitan Magistrate court by kins of...
  • Raju used 7,000 false invoices to fudge books: CBI April 27, 2009

    New Delhi: The financial fraud perpetrated by the founders of Satyam Computer Services was executed through a well-planned accounting system that used as many as 7,561 fraudulent invoices worth Rs 5,117 crore to inflate the company's sales, the Central Bureau of Investigation (CBI) alleged on Monday. To perpetrate the fraud, the...
  • Tech Mahindra raises $55 mln via comm paper April 15, 2009

    Mumbai: Software services group Tech Mahindra, which is waiting for regulatory approval to buy Satyam Computer Services, has raised $55 million via short-term debt, two sources said. The one-year commercial paper carries a coupon rate of 8.50 per cent, the sources were quoted by news agency Reuters as saying. Tech...
  • Ramalinga Raju overjoyed over Satyam acquisition April 14, 2009

    Hyderabad: Satyam Computer is set to embark on a new trajectory under the leadership of Tech Mahindra, and the man who threw the company into a deep crisis and is now in jail -- B Ramalinga Raju -- said he is happy at the turn of events. ...
  • CBI chargesheet against Satyam's Raju on April 9 April 2, 2009

    New Delhi: Beginning the trial in the multi-core Satyam accounting scam case, the CBI will file its chargesheet against B Ramalinga Raju and other accused on April 9. “We will be filing a chargesheet on April 9 but the investigations into the case would continue even after...
  • CBI moves court for lie detector test on Rajus March 25, 2009

    Hyderabad: The CBI on Tuesday approached the special court in Hyderabad for conducting a lie detector and other scientific tests on Satyam's former chairman B Ramalinga Raju and two others. In its plea before the XIV Additional Chief Metropolitan Magistrate here, the CBI said it...
  • Don't see Satyam as going forward: iGATE CEO March 16, 2009

    CEO of iGATE, Phaneesh Murthy stated that the company is less concerned about Satyam's margins and more on revenues. He feels there is a need to analyse impact of key customers exiting on Satyam's revenues. According to him, shareholder loss in Satyam could be around $100 million. However, he believes that...
  • Nod for 4 govt directors on Maytas Infra board May 19, 2011

    New Delhi: The Company Law Board on Thursday allowed the government to name four directors, including the chairperson, to the board of Maytas Infra but set aside a petition seeking to supersede the company's entire top brass. The permission immediately resulted in the government appointing senior advocate and tax expert O.P....
  • CBI team reaches Hyderabad to probe Satyam scam February 21, 2009

    New Delhi: A CBI team has arrived in Hyderabad to investigate the Satyam fraud. The team is meeting Andhra Pradesh CBI officials on Saturday and getting briefed on the investigations so far. The CBI has constituted a 15-member team headed by DIG, Hyderabad V Lakshiminarayanan to probe the Satyam fraud....
  • Government not to bail out Satyam: Pranab February 19, 2009

    New Delhi: The Government does not intend to bail out the scam-hit Satyam Computer Services as the company has "adequate assets" and can bounce back if run professionally, Minister for External Affairs Pranab Mukherjee said on Thursday. "Let me make it clear that the Government has no intention to bail out...
  • Court dismisses Raju brothers', CFO bail plea February 18, 2009

    New Delhi: Market regulator Securities and Exchange Board of India's (SEBI) memorandum to re-consider the days alloted to the investigating agency for recording the statement of former Satyam CFO, Srinivas Vadlamani has been approved by the court. SEBI had filed the memorandum in the Nampally Criminal Court of Andhra Pradesh. Earlier...
  • Govt to take over Raju family firm Maytas February 18, 2009

    New Delhi: The Union Government will take over Maytas Infra and Maytas Properties, companies owned by the family of B Ramalinga Raju, the disgraced founder of Satyam Computers Ltd. Company Affairs Minister P C Gupta announced on Tuesday the Government suspects Satyam-like scam in the infrastructure companies and would appoint new...