Satyam Ramalinga Raju barred from Markets

After 51/2 years of investigation, Satyam Ramalingaraju and four others were banned from the markets. Satyam Computer’s founder B Ramalinga Raju, his brother Rama Raju, Vadlamani Srinivas, Ramakrishna, and Prabhakara Gupta will face this ban for 14 years. In addition to that, they have to deposit Rs 1849 crores with sebi. This must be done within 45 days.

This sensational corporate scam, which shook the nation was taken place on 7, 2007. The then chairman Ramalinga Raju confessed his misdeeds and inflates the original cash statements.