AndhraNews.net
Home » Features » Businesspeople » B Ramalinga Raju

B Ramalinga Raju


About B Ramalinga Raju

B Ramalinga Raju (born: September 16, 1954) was the founder Chairman of Hyderabad-headquartered global IT company Satyam Computer Services. He is named as the key person responsible for the 2009 Financial misappropriations and fraud at Satyam Computers. B Rama Raju is his brother.

In January 2009, he resigned admitting financial wrong-doing and gave way to Ram Mynampati who took charge as interim CEO.

Personal Biography

Ramalinga Raju was born in the house of a farmer. He did his college at Andhra Loyola College, Vijayawada from where he obtained BCom degree. He later did his MBA at Ohio University, USA. He did his Owner / President course at Harvard University. Raju is married to Nandini. Raju's father died in 2001. Raju lived up to fulfill the dream by starting Byrraju Foundation works for undertakes social transformation.

Admitting fraud

Ramalinga Raju has admitted a Rs 7,000 crore fraud and his whereabouts are not known for a while after that. Sources said he left for Texas on Wednesday morning shortly after admitting fraud. A petition is pending over his Maytas deal for which British Telecom's Solutions firm - U-paid had demanded the presence of Raju and senior directors of Satyam for questioning by its lawyers. Unconfirmed TV reports said he might have left for Dubai. He was also unreachable on his mobile phone.

Arrest of Raju Brothers

Ramalinga Raju and his brother Rama Raju surrendered and are arrested by the Andhra Pradesh Police Director General of Police (DGP) S S P Yadav. The arrests are made under Section 120B, 409, 420, 468, 471 on the charges of criminal breach of trust, criminal conspiracy, cheating, falsification of records and forgery. Legal sources say Raju would be presented before a magistrate within 24 hours and might have to be in legal custody for atleast 24 hours as he might not get a bail. Family sources and his relatives say Ramalinga Raju is suffering from Blood Pressure and that his health condition is a 'little unwell'. The Raju brothers are sent to judicial custody till January 23, 2009 and are shifted to Chanchanlguda Jail. Raju's lawyer is reported to have said that a bail petition will be moved on Monday.

Custody, Jail & subsequent developments

In March 9, 2009, he is sent to CBI custody for seven days. In September 09, he is admitted to Nizam Institute of Medical Sciences (NIMS), Hyderabad following chest pain and Hepatitis C.

Grant of bail

In March 2010, Raju's plea for bail has been denied by the Supreme Court. When serious crimes are committed, people are bound to be in jail, a bench headed by Chief Justice K G Balakrishnan.

On August 18, 2010, the Andhra Pradesh High Court granted bail to Raju in connection with the multi-crore financial scam case.

On August 26, 2010, he made a second appearance before a court after being granted bail by the Andhra Pradesh High Court.

Professional Biography

Other positions

Ramalinga Raju served as the Chairman of NAASCOM for 2006-07.

Ramalinga Raju Awards

Raju is chosen for the Ernst & Young Entrepreneur of the Year for Services in 1999.

B Ramalinga Raju in News

Corporate Affairs Ministry refers Reebok scam to SFIO
Union Corporate Affairs Minister Dr. M. Veerappa Moily on Tuesday said that the Reebok scam in which two former top executives are accused of fraud has been referred to the Serious Frauds Investigation Office (SFIO).

Andhra Pradesh News on November 4, 2011
Andhra Pradesh News and Headlines on November 4, 2011.

Satyam fraud case: SC grants bail to Ramalinga Raju
The Supreme Court today granted bail to former Satyam chairman B. Ramalinga Raju and his brother B Rama Raju in connection with the massive corporate fraud case.

Satyam scam: Ramalinga Raju denied bail
A metropolitan court in Hyderabad on Thursday rejected the plea of former Satyam chairman B. Ramalinga Raju, and seven others into the multi-crore financial scam case.

Satyam to pay 10mn dlrs to US regulator to settle fraud charges
Satyam Computer Services Ltd. has reportedly agreed to pay 10 million dollars as penalty to the U.S. Securities and Exchange Commission (SEC) to settle accounting fraud charges.

Satyam scam: Ramalinga Raju surrenders before trial court
Former chairman of Satyam Computers, B Ramalinga Raju surrendered before a trial court here Wednesday.

Satyam fraud case: Supreme Court rejects Ramalinga Raju's plea
The Supreme Court on Tuesday rejected the plea of former Satyam chairman B. Ramalinga Raju, seeking extension of tomorrow's deadline for his surrender.

Satyam fraud case: CBI grills Raju for three hours
The Central Bureau of Investigation (CBI) questioned former Satyam chairman B. Ramalinga Raju for around three hours here today as part of its probe into the multi-crore financial scam case.

Comment on this story

Share