Ramalinga raju biography of michael

Please comment below how to improve our services. Post a Comment. One stop for your search-Search Engine. Ramalinga Raju was born on September 16, in a family of farmers. Chandrababu Naidu and his successor Y. Rajasekhar Reddy had hailed and heralded him as an icon of Andhra Pradesh to attract the top IT companies from around the world.

It was in this background that his letter of January 7, addressed to the shareholders admitting falsification in the accounts of the company had left not only India but also the entire world stupefied. It blew the lid off a never before billion rupees scam which brought the roof crashing down at one of the most promising companies of India. In the letter, which he later retracted, Ramalinga Raju had said that whatever he did was to avoid the takeover of the company by others on account of poor performance.

But he ended getting devoured by the same timer. Raju was granted bail on condition that he should report to the local police station once a day and that he should not attempt to tamper with the current evidence. This bail was revoked on 26 October by the Supreme Court of India and he has been ordered to surrender by 8 November In NovemberRaju surrendered after the Supreme Court in August cancelled the bail granted to him by a lower court in Hyderabad, where Satyam is based.

According to Indian law, if a chargesheet is not filed within 90 days, then the accused person has a right to obtain Default Bail. On 28 Octoberthe Enforcement directorate filed a chargesheet against Raju and others. The filed report states that "it transpires that the accused resorted to inter-connected transactions, so as to ensure that crime proceeds were distanced from its initial beneficiaries, and laundered the said proceeds under the cover of the corporate veil, with an ulterior motive to project the properties so acquired as untainted ones".

On 11 Maywithin a month of being convicted, Ramalinga Raju and all others who were found guilty were granted bail by a special court in Hyderabad. The bail amount for R. On 10 January India's capital market regulator has banned global auditing firm Price Waterhouse PW from auditing listed companies in India for two years for its alleged role of collusion with the directors and employees of erstwhile Satyam Computer Services, in perpetrating the country's biggest corporate accounting scandal.

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Ramalinga raju biography of michael: Ramalinga Raju, who founded Satyam, was

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Ramalinga raju biography of michael: Before Fame. After earning an

Wikimedia Commons Wikidata item. Indian businessman born Early life [ edit ]. Family [ edit ]. Career [ edit ]. Business and politics [ edit ]. Philanthropy [ edit ]. Accounting scandal [ edit ]. Court proceedings [ edit ].

Ramalinga raju biography of michael: He is the founder

In popular culture [ edit ]. References [ edit ]. The Times of India. Retrieved 20 October The company went public in With the launch of Satyam Infoway Sify Satyam became one of the first to enter Indian internet service market. Today, Satyam has a global presence and serves 44 Fortune and over multinational corporations.