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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)

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The United States Of America Drops Out Of Top 20 Corrupt Countries

For the 2018 index, 180 countries were surveyed. Denmark and New Zealand topped the list while Somalia, Syria, and South Sudan were at the bottom.

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U.S. President Donald Trump is seen through his transparent teleprompter as he speaks during the Missile Defense Review announcement at the Pentagon in Arlington, Virginia, U.S., January 17, 2019. VOA

A global anti-corruption watchdog says the United States has dropped four spots in its list of nations’ anti-corruption efforts and is now no longer listed in the top 20 for the first time.

Acting U.S. Representative at Transparency International, Zoe Reiter, calls a four point drop in the 2018 Corruption Perceptions Index (CPI) a “red flag.”

She says it comes at a time when the U.S. is experiencing “threats to its system of checks and balances” and an “erosion of ethical norms at the highest levels of power.”

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Caravans from Central America have inflamed the debate over U.S. immigration policy, with U.S. President Donald Trump using the migrants to try to secure backing for his plan to build a border wall on the frontier with Mexico., VOA

“If this trend continues, it would indicate a serious corruption problem in a country that has taken a lead on the issue globally,” Reiter says.

The United States scored a 71 in the perceptions index after scoring 75 the previous year.

“The expert opinion captured by the CPI supports the deep concern over corruption in government reported by America in our 2017 survey. Both experts and the public believe the situation is getting worse,” Reiter said.

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Bulgarian anti-corruption protesters march during a demonstration in downtown Sofia, VOA

Transparency International uses several criteria for measuring how well a country is fighting corruption, including checks and balances on political power, controls on conflicts of interest and private influence on government, and voter suppression.

Also Read: World’s Anti-Corruption Day

For the 2018 index, 180 countries were surveyed. Denmark and New Zealand topped the list while Somalia, Syria, and South Sudan were at the bottom. (VOA)