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

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.

ramalingaraju2
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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