Former chairman of Satyam Computers B. Ramalinga Raju and nine other accused in the Satyam Computers scandal have been awarded seven years rigorous imprisonment and imposed varying amounts of fine by a Special Court in Hyderabad on Thursday. All the 10 accused in the multi-crore Satyam Computers account fraud, were found guilty by the judge B.V.L.N. Chakravarthy.
Ramalinga Raju and his brother Rama Raju, former managing director, have been penalised Rs.5.5 crore each, while the eight other accused were asked to pay a penalty of Rs.50 lakh each. The two Raju brothers faced charges under Section 409 of IPC (criminal breach of trust by merchant and agent), a provision which attracted the maximum punishment.
In addition, Ramalinga Raju faced charges under Sections 120-B read with 420 IPC. He was also convicted under Sections 409, 467, 468, 471, 477-A and 201 of IPC. The sentence under the various charges will run concurrently.
He has already served jail sentence in the case from January 10, 2009 to August 19, 2010. He was freed on bail by the High Court in Hyderabad in August 2010. Following the cancellation of the bail by the Supreme Court, he was again lodged in jail from November 10, 2010 to November 5, 2011.
Along with Mr. Ramalinga Raju, nine others – B. Rama Raju, Srinivas Vadlamani (former Chief Financial officer), S. Gopalakrishnan and Taluri Srinivas (partners Price Waterhouse), B. Suryanarayana Raju, Prabhakar Gupta (internal auditor), G. Ramakrishna (Head, Finance), D. Laxmipathy and Venkatpathi Raju were found guilty in the scam under sections 120 B read with Section 420.
External auditors Gopalakrishnan and Talluri Srinivas and Ramakrishna were also convicted under section 419 (impersonation).B. Ramalinga Raju, V. Srinivas, S. Gopalakrishnan Talluri Srinivas, G. Ramakrishna, senior manager (Finance) D. Venkatapathy Raju, assistant manager (finance), Ch. Srisailam were convicted under sections 467, 468 (forgery), 471 (using forged documents as genuine) and 472-A (fudging of accounts).
B. Ramalinga Raju, B. Rama Raju, V. Srinivas, Gopalakrishnan, Talluri Srinivas, Suryanarayana Raju and G. Ramakrishna Rau were also convicted under section 201 (destruction of evidence).Mr. Ramalinga Raju and B. Rama Raju, were also found guilty under additional section 409 (Criminal breach of trust)
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