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Satyam scam final judgement announced
By: Tupaki Desk | 9 Dec 2014 4:10 AM GMT
The final verdict on Satyam case has been out and the software giant founder Ramalinga Raju, the former chairman of Satyam Computes, was awarded with six months imprisonment
The verdict came nearly six years after he confessed his mistake of manipulating company’s accounts books.Along with Ramalinga Raju his brother also has been sentenced to six months jail and they have to pay fine of Rs 5 lakh each as well.
The court also imposed fines to 11 individuals and the highest fine was imposed on Krishna G. Palepu, a director then.He need to pay amount of Rs. 2.66 crore in two months.
Satyam fraud was one of the country’s of the biggest fraud and the scam came to light on January 7, 2009, after Ramalinga Raju confessed to manipulating company's account books. Satyam Computer Sesrvices Ltd later merged with Tech Mahindra and there was no existence of SatyamOther side the judgment in another case pertaining to the ‘Satyam’ scam is due on December 23.
The verdict came nearly six years after he confessed his mistake of manipulating company’s accounts books.Along with Ramalinga Raju his brother also has been sentenced to six months jail and they have to pay fine of Rs 5 lakh each as well.
The court also imposed fines to 11 individuals and the highest fine was imposed on Krishna G. Palepu, a director then.He need to pay amount of Rs. 2.66 crore in two months.
Satyam fraud was one of the country’s of the biggest fraud and the scam came to light on January 7, 2009, after Ramalinga Raju confessed to manipulating company's account books. Satyam Computer Sesrvices Ltd later merged with Tech Mahindra and there was no existence of SatyamOther side the judgment in another case pertaining to the ‘Satyam’ scam is due on December 23.
