HYDERABAD: The CBI, probing the financial fraud in Satyam Computers, will tomorrow file a counter on a petition filed by the wife of former managing director of the company B Ramalinga Raju over release of some documents of a firm owned by her.
Radha Raju, wife of B Ramalinga Raju, in a petition filed in the designated CBI court sought interim custody of documents, pertaining to one of the private firms owned by her, that were seized by the investigating agency during searches conducted as part of the probe into the Satyam scam.
She (Radha Raju) sought the files to enable her to reply to the notices issued by the Income Tax Department, CBI deputy legal advisor B Ravindranath told PTI.
"We have to verify whether the seized files and documents are with the CBI or with the court," he said, adding, they would also file a counter tomorrow in this regard.
Meanwhile, another petition filed in the Court, by Anil Verma and Purnima, son-in-law and daughter of B Suryanarayana Raju (who is accused NO. 6 and presently on anticipatory bail) for de-freezing their accounts and fixed deposits in a private bank at Jubilee Hills, has been posted for hearing on December 9.
Nov 26, 2009
May 4, 2009
When RamaLingaRaju Getting Bail?
All are thinking about Satyam Ex Chairman RamaLingaRaju, when he would be out of Jail on Bail.
Really this is Raju's bad time, Living Legend / Emperor become Prisoner today.
Hope Raju and team will get bail after AP Election Results.
Really this is Raju's bad time, Living Legend / Emperor become Prisoner today.
Hope Raju and team will get bail after AP Election Results.
Raju financed business of chief minister’s son
Hyderabad, Feb 9 (IANS) The Satyam Computer Services fraud rocked the Andhra Pradesh assembly Monday with Leader of Opposition N. Chandrababu Naidu alleging that IT firm’s former chairman B. Ramalinga Raju financed the business of Chief Minister Y.S. Rajasekhara Reddy’s (YSR) son.
However, the ruling Congress party hit back by accusing Naidu of receiving money from Raju, including for the education of his son in the US.
Initiating the debate in the house, Naidu said alleged a “nexus” between the government and Satyam, and claimed that the Crime Investigation Department (CID) inquiry ordered by the government was trying to cover up this nexus.
The Telugu Desam Party (TDP) president claimed that 14 companies run by the chief minister’s family were used for money laundering by Raju. “He (Raju) pumped money into your companies,” he told YSR.
Naidu accused the chief minister’s son, Y.S. Jaganmohan Reddy, of violating rules including foreign direct investment rules, Foreign Exchange Regulations Act, Securities and Exchange Board of India (SEBI) and registrar of companies rules.
The former chief minister claimed these companies received Rs.6 billion (Rs.600 crore) from various sources and the same money was used to publish Telugu daily ‘Sakshi’ and launch ‘Indira’ television channel.
Naidu said the massive fraud has brought shame to the state and accused the Congress government of shielding the guilty.
He pointed out that the SEBI had to approach the Supreme Court to interrogate Raju and other accused. He also referred to the statement of the SEBI chief that Raju was under protective custody of the state.
However, the Congress party said it was Naidu who received money from Raju. Government chief whip N. Kiran Kumar Reddy said it was during Naidu’s rule that Raju got all the patronage. He alleged that the NTR Trust and various other trusts of the TDP received money from Satyam.
Outside the house, the Congress leaders also alleged that Raju provided funds for the education of Naidu’s son Lokesh in the US.
Reacting to this, Naidu said if it was proved he was ready to go to jail. “Today when even a poor man is sending his children to the US for higher education, can I not bear the education expenses of my only son?” he asked.
However, the ruling Congress party hit back by accusing Naidu of receiving money from Raju, including for the education of his son in the US.
Initiating the debate in the house, Naidu said alleged a “nexus” between the government and Satyam, and claimed that the Crime Investigation Department (CID) inquiry ordered by the government was trying to cover up this nexus.
The Telugu Desam Party (TDP) president claimed that 14 companies run by the chief minister’s family were used for money laundering by Raju. “He (Raju) pumped money into your companies,” he told YSR.
Naidu accused the chief minister’s son, Y.S. Jaganmohan Reddy, of violating rules including foreign direct investment rules, Foreign Exchange Regulations Act, Securities and Exchange Board of India (SEBI) and registrar of companies rules.
The former chief minister claimed these companies received Rs.6 billion (Rs.600 crore) from various sources and the same money was used to publish Telugu daily ‘Sakshi’ and launch ‘Indira’ television channel.
Naidu said the massive fraud has brought shame to the state and accused the Congress government of shielding the guilty.
He pointed out that the SEBI had to approach the Supreme Court to interrogate Raju and other accused. He also referred to the statement of the SEBI chief that Raju was under protective custody of the state.
However, the Congress party said it was Naidu who received money from Raju. Government chief whip N. Kiran Kumar Reddy said it was during Naidu’s rule that Raju got all the patronage. He alleged that the NTR Trust and various other trusts of the TDP received money from Satyam.
Outside the house, the Congress leaders also alleged that Raju provided funds for the education of Naidu’s son Lokesh in the US.
Reacting to this, Naidu said if it was proved he was ready to go to jail. “Today when even a poor man is sending his children to the US for higher education, can I not bear the education expenses of my only son?” he asked.
Apr 14, 2009
Ramalinga Raju very happy over Satyam acquisition
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 Ramalinga raju deep crisis and is now in jail -- B Ramalinga Raju -- said he is happy at the turn of events.
In a message though his wife Nandini, Raju expressed his satisfaction and happiness that Tech Mahindra today emerged the highest bidder to acquire the beleaguered IT company.
The takeover ended a long chapter which Byrraju Ramalinga Raju had begun 21 years ago. The son of an agriculturist from West Godavari district of coastal Andhra Pradesh had made an humble beginning.
Raju founded Satyam in 1987 and nurtured it. More than two decades later in 2009, he disclosed that he had been inflating profits and fudging the company's account books for many years.
One of the pioneers of offshore development, Satyam became one of the earliest companies to get a dedicated data link.
It was Jan 7 this year that Raju shocked corporate India by admitting to a Rs.78 billion ($1.5 billion) accounting fraud.
While resigning as chairman, he confessed that he cooked the company's account books and inflated profits over the past several years.
Raju, now facing investigation by multiple agencies including the CBI, is lodged in the Chanchalguda jail under judicial custody since January 10. Raju is charged with criminal conspiracy, criminal breach of trust, cheating, forgery and falsification of accounts.
In a message though his wife Nandini, Raju expressed his satisfaction and happiness that Tech Mahindra today emerged the highest bidder to acquire the beleaguered IT company.
The takeover ended a long chapter which Byrraju Ramalinga Raju had begun 21 years ago. The son of an agriculturist from West Godavari district of coastal Andhra Pradesh had made an humble beginning.
Raju founded Satyam in 1987 and nurtured it. More than two decades later in 2009, he disclosed that he had been inflating profits and fudging the company's account books for many years.
One of the pioneers of offshore development, Satyam became one of the earliest companies to get a dedicated data link.
It was Jan 7 this year that Raju shocked corporate India by admitting to a Rs.78 billion ($1.5 billion) accounting fraud.
While resigning as chairman, he confessed that he cooked the company's account books and inflated profits over the past several years.
Raju, now facing investigation by multiple agencies including the CBI, is lodged in the Chanchalguda jail under judicial custody since January 10. Raju is charged with criminal conspiracy, criminal breach of trust, cheating, forgery and falsification of accounts.
Mar 10, 2009
Fraud mail makes use of Satyam scam
The notorious Nigerian email scam is now trying to milk the Satyam affair. In a new email being spammed to unwary Internet users, the sender claims to be the wife of former Satyam chief Ramalinga Raju’s brother and asks for help to transfer funds to India from Holland. It promises to “compensate” anyone who can assist.
Senior police officers say the email is similar to those sent in the Nigerian fraud that many people have lost money to.
The email says: “My name is Radha Ramalinga. I am the wife of Rama Ramalinga, the younger brother of Byrraju Ramalinga Raju, former chairman and founder and owner of Satyam Computers. I have a proposal which could be of immense financial benefit to you.”
It asks for help out of the “big trouble” that “my husband and his brother are currently in.” “I need your assistance to help me move some funds from Holland to India or anywhere else, where it could be of some help to our family,” the email says.
Asking that the matter be kept confidential, the email adds: “I will give you more details of the proposal if you show your willingness. I assure you that you will be compensated. I am currently in the UK where it is safe for me and my kids. You can reach me at my personal email id which is mrsradharamalinga1974@yahoo.co.uk.”
The police has taken serious note of the email and warned people not to fall for the bait. “Internet users need to be cautious when tricksters make attractive offers after exchanging a few emails,” a senior police officer says.
N. Vijayshankar, an expert in cyber law, says, the trick is not a new, but many fraudsters continue to cash in on the scheme.
This is the email
From: R.Ramalinga
Date: Tue, Mar 3, 2009 at 6:38 PM
Subject: I NEED YOUR ASSISTANCE
To: undisclosed-recipients
Namastey,
My name is Radha Ramalinga,I am the wife of Rama Ramalinga,the younger brother of Byrraju Ramalinga Raju,former chairman,founder and owner of Satyam Computers.
I do have a proposal for you,which would be of immense financial benefits to you and I.
My husband and his brother are currently in big trouble in India,I need your assistance to help me move some funds from Holland to India or anywhere where it would at least be of some help to our family.
I would give you more details of this proposal if you show yourself willing to take on it,I assure you that you would most certainly be compensated but please I would kindly request you to keep this matter confidential.
I am currently here in the UK where it is a bit safe for me and my kids. You can reach me on my personal email id which is mrsradharamalinga1974@yahoo.co.uk
Yours sincerely,
R.Ramalinga
Senior police officers say the email is similar to those sent in the Nigerian fraud that many people have lost money to.
The email says: “My name is Radha Ramalinga. I am the wife of Rama Ramalinga, the younger brother of Byrraju Ramalinga Raju, former chairman and founder and owner of Satyam Computers. I have a proposal which could be of immense financial benefit to you.”
It asks for help out of the “big trouble” that “my husband and his brother are currently in.” “I need your assistance to help me move some funds from Holland to India or anywhere else, where it could be of some help to our family,” the email says.
Asking that the matter be kept confidential, the email adds: “I will give you more details of the proposal if you show your willingness. I assure you that you will be compensated. I am currently in the UK where it is safe for me and my kids. You can reach me at my personal email id which is mrsradharamalinga1974@yahoo.co.uk.”
The police has taken serious note of the email and warned people not to fall for the bait. “Internet users need to be cautious when tricksters make attractive offers after exchanging a few emails,” a senior police officer says.
N. Vijayshankar, an expert in cyber law, says, the trick is not a new, but many fraudsters continue to cash in on the scheme.
This is the email
From: R.Ramalinga
Date: Tue, Mar 3, 2009 at 6:38 PM
Subject: I NEED YOUR ASSISTANCE
To: undisclosed-recipients
Namastey,
My name is Radha Ramalinga,I am the wife of Rama Ramalinga,the younger brother of Byrraju Ramalinga Raju,former chairman,founder and owner of Satyam Computers.
I do have a proposal for you,which would be of immense financial benefits to you and I.
My husband and his brother are currently in big trouble in India,I need your assistance to help me move some funds from Holland to India or anywhere where it would at least be of some help to our family.
I would give you more details of this proposal if you show yourself willing to take on it,I assure you that you would most certainly be compensated but please I would kindly request you to keep this matter confidential.
I am currently here in the UK where it is a bit safe for me and my kids. You can reach me on my personal email id which is mrsradharamalinga1974@yahoo.co.uk
Yours sincerely,
R.Ramalinga
Jan 21, 2009
Latest Plight Of 'Satyam' Employees
Along with the bailout plan announced by YSR for Satyam Company, NASSCOM had requested all the other Indian IT giants not to hire Satyam employees. Vasanth, HR from Wipro says " We are getting enough number of resumes from Satyam employees and many of them are even ready to take offer for a less salary up to 30% of their current CTC (cost to company ), but we are ordered not to hire Satyam staff".
Current employees of other companies are also little bit worried because of the risk of replacing them with Satyamite with less salary.
Sridharan (name changed) a Satyamite says, " I tried to manage a job for same salary in TCS but they asked to return their offer as I belong to Satyam". As the IT company's strength is Human Capital, if employees leaves the company the client will be in trouble and the Company is the final looser, as NASSCOM has taken this step. An employee who has lost his job in Satyam says "I lost job in Satyam and now I am not getting job else where because I had worked for Satyam. Is that a curse? Is government looking out for any bailout plans to look after employees like me?
Current employees of other companies are also little bit worried because of the risk of replacing them with Satyamite with less salary.
Sridharan (name changed) a Satyamite says, " I tried to manage a job for same salary in TCS but they asked to return their offer as I belong to Satyam". As the IT company's strength is Human Capital, if employees leaves the company the client will be in trouble and the Company is the final looser, as NASSCOM has taken this step. An employee who has lost his job in Satyam says "I lost job in Satyam and now I am not getting job else where because I had worked for Satyam. Is that a curse? Is government looking out for any bailout plans to look after employees like me?
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