In the first half of September, Srinivas Vadlamani suddenly offloaded 92,358 shares of Satyam in the stock market. When quizzed about it, he said that he needed the money because he was building a house and could not manage without liquidating his ESOP holdings. That answer had satisfied curious newshounds then.
However, after the Raju confession, [...]
Former Satyam chairman Ramalinga Raju and his brother, former Satyam Managing Director Ram Raju surrendered before the Andhra Pradesh Director General of Police on Friday night and were subsequently arrested, police spokesperson said.
Ramalinga Raju has been charged under various sections of the Indian Penal Code including Section 120B for criminal conspiracy, under Section 409 for [...]
DSQ Software, Pentasoft, Pentamedia had collapsed amid scandals over insider trading, malpractices
The scam involving Satyam Computer Services Ltd isn’t the first to to strike India’s software industry, although the scale of the accounting fraud to which chairman B. Ramalinga Raju has confessed may be unprecedented for the country.
In the past decade, companies such as DSQ [...]
This is by far Largest Corporate Scam in India Inc. Read more ...
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