B Ramalinga Raju and brother Rama Raju convicted for 'violation of companies law'
Posted December 9th, 2014, 11:52 AM IST
Hyderabad: Byrraju Ramalinga Raju and his brother Rama Raju have been sentenced to jail for the violation of companies law at Satyam Computers, six years ago.
Along with the Raju brothers, erstwhile officials like Vadlamani Srinivas and Ram Mynampati have also been sentenced to six months of imprisonment and a penalty of Rs 10 lakh lakh. Independent directors M. Srinivas, Krishna G. Palepu, Vinod K. Dham, T.R. Prasad, V.S. Raju and Prof. Ram Mohan Rao were directed to pay a fine of Rs 20,000.
The special court for economics offences, which pronounced the sentence here on Monday, suspended the operation of its verdict for a month after the accused preferred to appeal the judgement.
The Serious Fraud Investigation Office (SFIO), the investigation wing of the ministry of corporate affairs, had filed seven complaints in the special court in 2009.
Along with the Raju brothers, erstwhile officials like Vadlamani Srinivas and Ram Mynampati have also been sentenced to six months of imprisonment and a penalty of Rs 10 lakh lakh. Independent directors M. Srinivas, Krishna G. Palepu, Vinod K. Dham, T.R. Prasad, V.S. Raju and Prof. Ram Mohan Rao were directed to pay a fine of Rs 20,000.
The special court for economics offences, which pronounced the sentence here on Monday, suspended the operation of its verdict for a month after the accused preferred to appeal the judgement.
The Serious Fraud Investigation Office (SFIO), the investigation wing of the ministry of corporate affairs, had filed seven complaints in the special court in 2009.
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