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V.Balasubramani
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Raju brothers sentenced to 7 years in jail, fined Rs. 5.5 crore
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.
Read more at: Ramalinga Raju sentenced to 7 years in jail, fined Rs. 5.5 crore in Satyam scam case - The Hindu