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7 years jail and Rs. 5 crore fine to Ramalinga Raju
By: Tupaki Desk | 9 April 2015 9:58 AM GMT
A special court investigating the multi-crore rupee accounting fraud case of erstwhile Satyam Computer Services Limited (SCSL) today announced its verdict. Special Judge B.V.L.N. Chakravarthi of the Central Bureau of Investigation (CBI) court pronounced the much awaited verdict in the packed court hall. A1 accused and pronounced guilty, Ramalinga Raju is awarded 7 year jail and Rs 5 Crore fine
Along with Raju nine others were declared guilty of criminal conspiracy in the country's biggest accounting fraud. These nine held guilty are Ramalinga Raju's brother RamaRaju, another brother B. Suryanarayana Raju; Satyam's former chief financial officer Vadlamani Srinivas; former PricewaterhouseCoopers auditors Subramani Gopalakrishnan and T. Srinivas; former employees G. Ramakrishna, D. Venkatpathi Raju and Ch. Srisailam; and Satyam's former internal chief auditor V.S. Prabhakar Gupta.
Ramalinga Raju requested Court reduce his punishment keeping his view of his social service and responsibilities. Raju may approach High Court challenging the verdict.
Along with Raju nine others were declared guilty of criminal conspiracy in the country's biggest accounting fraud. These nine held guilty are Ramalinga Raju's brother RamaRaju, another brother B. Suryanarayana Raju; Satyam's former chief financial officer Vadlamani Srinivas; former PricewaterhouseCoopers auditors Subramani Gopalakrishnan and T. Srinivas; former employees G. Ramakrishna, D. Venkatpathi Raju and Ch. Srisailam; and Satyam's former internal chief auditor V.S. Prabhakar Gupta.
Ramalinga Raju requested Court reduce his punishment keeping his view of his social service and responsibilities. Raju may approach High Court challenging the verdict.
