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A special <keyword id="6362306" type="ORGANIZATION" weightage="80" keywordseo="CBI-court">CBI court</keyword> on Thursday held <keyword id="10958" type="CITY" weightage="80" keywordseo="Satyam">Satyam</keyword> founder and <keyword id="6364480" type="POSITION" weightage="80" keywordseo="Chairman">chairman</keyword> B <keyword id="41263" type="PERSON" weightage="60" keywordseo="Ramalinga-Raju">Ramalinga Raju</keyword> guilty in the multi-crore accounting fraud, sentencing him to 7 years of rigorous imprisonment. The court also imposed a fine of Rs 5 crore on Raju. 
 
Raju who has already spent over 30 months in jail had urged the court to be lenient with the sentencing, citing health grounds. 
 
The scam surfaced in January, 2009, after Raju, Satyam's then chairman, allegedly confessed to manipulating his company's account books and inflating profits over many years. Around 3,000 documents were marked and 226 witnesses examined during the trial that began nearly six years ago. 
 Beside Raju, the others found guilty in the case are, his brother and Satyam's former <keyword id="24973" type="POSITION" weightage="80" keywordseo="managing-director">Managing Director</keyword> B <keyword id="8810" type="PERSON" weightage="80" keywordseo="Rama-Raju">Rama Raju</keyword>, <keyword id="2757273" type="POSITION" weightage="80" keywordseo="former-Chief-Financial-Officer">former Chief Financial Officer</keyword> <keyword id="272047" type="PERSON" weightage="80" keywordseo="Vadlamani-Srinivas">Vadlamani Srinivas</keyword>, former <keyword id="66728" type="CITY" weightage="80" keywordseo="PricewaterhouseCoopers">PricewaterhouseCoopers</keyword> (PwC) auditors <keyword id="263551" type="PERSON" weightage="80" keywordseo="Subramani-Gopalakrishnan">Subramani Gopalakrishnan</keyword> and T Srinivas, Raju's another brother B Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam and Satyam's former <keyword id="2571205" type="POSITION" weightage="80" keywordseo="internal-chief-auditor">internal chief auditor</keyword> <keyword id="754958" type="COMPANY" weightage="80" keywordseo="VS-Prabhakar-Gupta">VS Prabhakar Gupta</keyword>. 
 Raju and others were charged with offences like cheating, criminal conspiracy, forgery and breach of trust under relevant sections of IPC for inflating invoices and incomes, account falsification, faking fixed deposits, besides allegedly falsifying returns through violation of various <keyword id="6354751" type="COMPANY" weightage="80" keywordseo="Income-Tax">Income Tax</keyword> laws. 
 
While the CBI accused Raju and the others of cheating, breach of trust by way of inflating invoices and incomes in the first and third charge sheets, the second one dealt with the accused allegedly falsifying returns through violation of various IT laws. 
During the trial, the CBI alleged that the scam caused a loss of Rs 14,000 crore to shareholders of Satyam. 
 In January last year, Ramalinga Raju's wife <keyword id="2799808" type="UNKNOWN" weightage="80" keywordseo="Nandini-Raju-and-sons">Nandini Raju and sons</keyword> <keyword id="158777" type="PERSON" weightage="80" keywordseo="Teja-Raju">Teja Raju</keyword> and Rama Raju were among 21 relatives of the ex-Satyam boss who were convicted by a <keyword id="2107210" type="ORGANIZATION" weightage="80" keywordseo="special-court-for-economic-offences">Special Court for Economic Offences</keyword> here for default in Income Tax payment.

Ramalinga Raju sentenced to
7 years in jail, also Rs 5cr fine for committing fraud

In what can be considered a huge setback for the erstwhile software company, <keyword id="10958" type="CITY" weightage="80" keywordseo="Satyam">Satyam</keyword>, a special <keyword id="6362306" type="ORGANIZATION" weightage="80" keywordseo="CBI-court">CBI court</keyword> on Thursday held its founder and chairman B <keyword id="41263" type="PERSON" weightage="80" keywordseo="Ramalinga-Raju">Ramalinga Raju</keyword> and nine others guilty in the multi-crore accounting fraud. The court will pronounce the sentence on Friday. 
 
Touted as the country's biggest accounting fraud, the scam had come to light on January 7, 2009, after the firm's founder and then Chairman B Ramalinga Raju allegedly confessed to manipulating his company's account books and inflating profits over many years to the tune of crores of rupees. 
 Raju was arrested by <keyword id="37102" type="COMPANY" weightage="80" keywordseo="Andhra-Pradesh">Andhra Pradesh</keyword> Police's <keyword id="6451278" type="ORGANIZATION" weightage="80" keywordseo="Crime-Investigation-Department">Crime Investigation Department</keyword> two days later after he allegedly confessed to the fraud, along with his brother Rama Raju and others. 
 
Around 3,000 documents were marked and 226 witnesses examined during the trial that began nearly six years ago. 
 Beside Ramalinga Raju, the other accused are, his brother and Satyam's former <keyword id="24973" type="POSITION" weightage="80" keywordseo="managing-director">Managing Director</keyword> B Rama Raju, former Chief Financial Officer <keyword id="272047" type="PERSON" weightage="80" keywordseo="Vadlamani-Srinivas">Vadlamani Srinivas</keyword>, former PwC auditors Subramani Gopalakrishnan and T Srinivas, Raju's another brother B Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam and Satyam's former <keyword id="2571205" type="POSITION" weightage="80" keywordseo="internal-chief-auditor">internal chief auditor</keyword> <keyword id="626096" type="PERSON" weightage="80" keywordseo="V-S-Prabhakar-Gupta">V S Prabhakar Gupta</keyword>. Raju and others were charged with offences like cheating, criminal conspiracy, forgery and breach of trust under relevant sections of IPC for inflating invoices and incomes, account falsification, faking fixed deposits, besides allegedly falsifying returns through violation of various <keyword id="6354751" type="COMPANY" weightage="80" keywordseo="Income-Tax">Income Tax</keyword> laws. 
 
In February 2009, the CBI took over the investigation and filed three charge sheets (on April 7, 2009, November 24, 2009 and January 7, 2010), which were later clubbed into one. 
 
The first two charge sheets dealt with the account fudging by Raju with the assistance of nine others, while the third charge sherelates to "violation" of various Income Tax rules. 
 
While the CBI accused Raju and the others of cheating, breach of trust by way of inflating invoices and incomes in the first and third charge sheets, the second one dealt with the accused allegedly falsifying returns through violation of various IT laws. 
 
During the trial, the CBI alleged that the scam caused a loss of Rs 14,000 crore to shareholders of Satyam, while the defence countered the charges saying the accused were not responsible for the fraud and all the documents filed by the central agency relating to the case were fabricated and not according to the law. 
 The <keyword id="6357808" type="ORGANIZATION" weightage="80" keywordseo="Enforcement-Directorate">Enforcement Directorate</keyword> had also filed a charge sheet against them under Prevention of <keyword id="6355008" type="UNKNOWN" weightage="80" keywordseo="money-laundering">Money Laundering</keyword> Act. 
 In January last year, Ramalinga Raju's wife <keyword id="2799808" type="UNKNOWN" weightage="80" keywordseo="Nandini-Raju-and-sons">Nandini Raju and sons</keyword> <keyword id="158777" type="PERSON" weightage="80" keywordseo="Teja-Raju">Teja Raju</keyword> and Rama Raju were among 21 relatives of the ex-Satyam boss who were convicted by a <keyword id="2107210" type="ORGANIZATION" weightage="80" keywordseo="special-court-for-economic-offences">Special Court for Economic Offences</keyword> here for default in Income Tax payment. 
 Last year, on December 8, Ramalinga Raju, Rama Raju, Vadlamani Srinivas and former director <keyword id="125006" type="PERSON" weightage="80" keywordseo="Ram-Mynampati">Ram Mynampati</keyword> were sentenced to six months jail term and fined by the Special Court for Economic Offences in connection with complaints filed by <keyword id="107956" type="ORGANIZATION" weightage="80" keywordseo="Serious-Fraud-Investigation-Office">Serious Fraud Investigation Office</keyword> (SFIO) for violation of various provisions of the Companies Act.

Ramalinga Raju, 9 others 'guilty' of fraud. Sentencing on Friday

A special court will deliver its verdict in <keyword id="74971" type="UNKNOWN" weightage="20" keywordseo="Satyam-fraud-case">Satyam fraud case</keyword> on March 9, 2015. Special <keyword id="2655311" type="UNKNOWN" weightage="20" keywordseo="Judge-BVLN-Chakravarthi">Judge BVLN Chakravarthi</keyword> deferred the judgment, owing “voluminous documents.” 
 
“You know the volume of the case…it requires some more time (to study). You may be satisfied or not (with the outcome), but I must satisfy myself (before coming to a conclusion). Typing of the judgement itself needs 2-3 weeks,” the judge said. 
 
Satyam Computers founder and erstwhile chairman B Ramalinga Raju, his brother and the company’s former managing director B Rama Raju and former chief financial officer Vadlamani Srinivas were present in the court during the hearing. 
 
The others accused in the case are: former PwC auditors Subramani Gopalakrishnan and T Srinivas, Raju’s another brother B Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and CH Srisailam, and Satyam’s former internal chief auditor VS Prabhakar Gupta. 
 Raju was arrested by the <keyword id="6451278" type="ORGANIZATION" weightage="20" keywordseo="Crime-Investigation-Department">Crime Investigation Department</keyword>, Andhra Pradesh police, after he confessed to the fraud.

You Searched For "Vadlamani Srinivas" and got 3 results

Ramalinga Raju sentenced to 7 years in jail, also Rs 5cr fine for committing fraud

BI India Bureau

Ramalinga Raju, 9 others 'guilty' of fraud. Sentencing on Friday

BI India Bureau

Verdict In Satyam Case To Be Delivered On March 9

BI India Bureau

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