Satyam Raju arrested after Surrender

HYDERABAD: Former Satyam chief Ramalinga Raju was arrested on Friday night, after he surrendered before the state DGP S S P Yadav.

According to a police official co-founder of the company B Rama Raju is also arrested. Both are facing charges of criminal breach of trust, criminal conspiracy, cheating, falsification of records and forgery.

Earlier in the day, Andhra Pradesh CID filed criminal case against former Satyam chief Ramalinga Raju.

Raju, whose whereabouts were a matter of speculation ever since he made the shocking disclosure on Wednesday about the Rs 7,800 crore financial fraud, had been in hiding and was summoned to appear before the SEBI on Saturday.

In the mean time, Corporate affairs minister Prem Chand Gupta said in New Delhi that the names of the new members would be announced soon for the board, which would meet in the next seven days.

No related posts.

This entry was posted on Saturday, January 10th, 2009 at 7:30 am and is filed under IT News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.