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CBI court adjourns pronouncement of the judgment in Satyam case till April 9

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By Newsgram Staff Writer

A special CBI court adjourned pronouncement of the judgment in the multi-crore Satyam scam till April 9 in Hyderabad today.

The court on December 23, 2014 had set March 9 as the date for the judgement in country’s biggest accounting fraud. However, Special Judge B.V.L.N. Chakravarthi, who was scheduled to pronounce the verdict on Monday, deferred it by a month.

All 10 accused, including prime accused B. Ramalinga Raju, the Satyam Computer Services Limited’s founder and former chairman, appeared in the court

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SEBI orders Ramalinga Raju, others to disgorge Rs 1,802 crore

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By NewsGram Staff Writer

Chennai: On Thursday, Securities and Exchange Board of India (SEBI) ordered Satyam Computers scam kingpin B Ramalinga Raju and 11 others to surrender the illegal gain of Rs 1,802.81 crore from insider trading.

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B Ramalinga Raju source: ndtv

According to the Indian securities market regulator, SEBI, the amount has to be disgorged within 45 days with an additional 12 percent simple interest calculated from January 7, 2009.

SRSR Holdings Pvt Ltd, a front for the Satyam Computers promoter group, has been ordered to repay Rs 1,258.88 crore. The remaining amount of approximately Rs 543.93 crore has to be paid by 11 others including around Rs 26.62 crore to be paid by Ramalinga Raju and Rs 29.54 crore to be paid by B Rama Raju, as per the order issued by SEBI’s whole time member Rajeev Kumar Agarwal.

B Appalanarasamma, B Jhansi Rani, B Rama Raju Jr, B Suryanarayana Raju, B Teja Raju, Chintalapati Holdings Pvt Ltd, Chintalapati Srinivasa Raju and SRSR Holdings are now banned by SEBI from the securities market for a period of seven years.

 

(With inputs from IANS)