The Securities and Exchange Board of India (SEBI) gave another jolt to Satyam Raju who involved in multi-crore white collared scam. Sebi asked 10 entities linked to him, including his brother, mother and son to disgorge over Rs 1,800 crore worth of illegal gains made by them with the scam.
With this order Ramalinga Raju and his brother Rama Raju need to return Rs.56 crore which they had earned by sale of shares held by them in Satyam Computers. SEBI asked SRSR Holdings Pvt. Ltd. which was controlled by raju brothers to disgorge the wrongful gain of Rs.1,258.88 crore
Raju's third brother Suryanarayana Raju and his wife will have to return Rs.90 and Rs.8.50 crores respectively.Ramalinga Raju's mother Appalanarasamma and both his sons will have to return 8 and Rs.95 crores.SEBI ordered that these amounts would be paid within 45 days along with simple interest at 12 per cent per annum from January 7, 2009.
With this order Ramalinga Raju and his brother Rama Raju need to return Rs.56 crore which they had earned by sale of shares held by them in Satyam Computers. SEBI asked SRSR Holdings Pvt. Ltd. which was controlled by raju brothers to disgorge the wrongful gain of Rs.1,258.88 crore
Raju's third brother Suryanarayana Raju and his wife will have to return Rs.90 and Rs.8.50 crores respectively.Ramalinga Raju's mother Appalanarasamma and both his sons will have to return 8 and Rs.95 crores.SEBI ordered that these amounts would be paid within 45 days along with simple interest at 12 per cent per annum from January 7, 2009.