Ramalinga Raju, former chairman of
Satyam Computers, who last year confessed to have inflated his
company`s assets by over USD one billion, was declared a
pauper by a court here exempting him from paying court costs.
In the wake of new evidences, the CBI will soon file a fresh chargesheet against tainted Satyam Computer founder B Ramalinga Raju and others for allegedly diverting hundreds of crores of rupees to some foreign countries.
It`s one Forbes list where none would want to figure, but Ramalinga Raju, the founder-chairman Satyam Computers (now Mahindra Satyam), has managed the feat of being among the world`s 10 most outrageous CEOs.
The CBI, which is probing the
alleged multi-crore financial fraud in Satyam Computers, on Wednesday
strongly objected to the petition of former MD Rama Raju
seeking permission to use laptops inside the jail.
The government has formed a committee with representations from market regulator Sebi, CBI and Enforcement Directorate to expedite investigation in the over Rs 10,000-crore accounting scam in IT firm Satyam Computer.
SEBI on Saturday asked Satyam`s Raju brothers and two others to reply by end of the month to the show cause notices issued to them in connection with the multi-crore accounting fraud case in the IT company.