Satyam fraud: Court suspends Ramalinga Raju, 9 others’ sentence

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May 11, 2015

HYDERABAD – Satyam Computers founder Ramalinga Raju, his brother Rama Raju and eight others were granted bail on Monday by a Hyderabad court. The court also suspended their sentences.

Former Satyam Computers chairman B Ramalinga Raju arrives for the final hearing at Nampally Criminal Courts in Hyderabad.

May 11, 2015

HYDERABAD – Satyam Computers founder Ramalinga Raju, his brother Rama Raju and eight others were granted bail on Monday by a Hyderabad court. The court also suspended their sentences.

Former Satyam Computers chairman B Ramalinga Raju arrives for the final hearing at Nampally Criminal Courts in Hyderabad.

Former Satyam Computers chairman B Ramalinga Raju arrives for the final hearing at Nampally Criminal Courts in Hyderabad on Thursday. – See more at: http://news.mydosti.com/satyam-computers-raju-brothers-sentenced-7-years-jail-fined-rs-55-crore#sthash.1USYrwQA.dpuf

While Ramalinga Raju and Rama Raju will have to give a surety of Rs 1 lakh, the eight others will have to cough up Rs 50,000 each.

The court on Friday had deferred its order to Monday, on an application filed by Mr. Raju and nine others, seeking suspension of their sentence and fines imposed on them in the multi-crore rupee accounting fraud.

Mr. Raju, the kingpin of the scam that ran into crores, and nine other convicts, currently lodged in Cherlapally Central Prison had challenged their conviction, besides sentences and fines imposed by the Additional Chief Metropolitan Magistrate Court (ACMM) in the over Rs 7,000-crore fraud that came to light in 2009.

On April 9, the ACMM court, which tried the Satyam corporate fraud case probed by the Central Bureau of Investigation (CBI), sentenced Mr. Raju and others to seven years' rigorous imprisonment for criminal conspiracy and cheating, among other offences.

It had also imposed Rs 5.35 crore fine on Mr. Raju and his brother Rama Raju while others were fined Rs 25 lakh each.


Courtesy: NDTV