A special court in Hyderabad on Thursday has declared Satyam founder B. Ramalinga Raju, along with nine others convicted in multi-crore accounting fraud case, as guilty.
Further details are awaited.
A Hyderabad court had sent Raju and his brother Rama Raju to six months in jail, and had also imposed a fine of Rs.5 lakh on each of them in connection with the massive corporate fraud case in November last year.
The Supreme Court had later granted bail to the two accused.
The charges against Raju, who was arrested in January 2009 for one of India's biggest corporate scams worth more than Rs.7000 crores, include criminal conspiracy, breach of trust, cheating and forgery.
The Andhra Pradesh Police had arrested Raju and his brother Rama Raju on January 9, 2010. Nine other accused, including top company officials and auditors, were also arrested in the case.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app