Ramalinga Raju's judicial custody ends on Jul 22

Posted By: Staff
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Hyderabad, Jul 22: The judicial custody of former Satyam Computers chairman B Ramalinga Raju and other accused in connection with the 7,800 crore fraud at the IT major ends on Jul 22.

On Jul 8, a local court had extended their judicial custody till Jul 22.

The accused are Ramalinga Raju, his brother and Satyam's former managing director Rama Raju, ex-CFO V Srinivas, former partners of Price Waterhouse S Gopalakrishnan and T Srinivas along with Satyam Computer Services former employees G Ramakrishna, D Venkatapathi Raju and CH Srisailam. All are lodged at Chanchalguda Jail here.

Ramalinga Raju allegedly admitted overstating its cash reserves by USD 1.5 billion dollars. Later, allegations have been made that the company's assets were not inflated, but instead siphoned off by Ramalinga Raju.

Raju is currently held in Hyderabad's Chanchalguda Jail on criminal charges including fraud, forgery, cheating, embezzlement and insider trading.


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