Satyam chief Raju sent to judicial remand till Jan. 23

January 10th, 2009 - 8:56 pm ICT by ANI  

Ramalinga Raju

Hyderabad, Jan.10 (ANI): Satyam Computer’’s disgraced Chairman Ramalinga Raju and his brother Rama Raju were on Saturday remanded to judicial custody till January 23. They will be staying in the Chanchalguda Central Jail.
The Raju brothers were arrested on Friday night and subjected to several hours of interrogation before being produced before the 6th Chief Metropolitan Magistrate at the judges” quarters at Marredpally in Secunderabad on Saturday evening.
Raju’’s lawyer Bharat Kumar told reporters here that his clients were in judicial custody till January 23. He said the court has directed medical treatment to be given by a government doctor to Raju, whose BP was fluctuating abnormally.
Kumar said that a bail application would be moved on behalf of his clients on Monday.
On Friday, police subjected the two to a lengthy interrogation. On Saturday, Ramalinga Raju, 54, the elder of the two, complained of chest pain and uneasiness. He was taken to the privately-run Care Hospital and a government hospital for amedical check-up.
A case has been filed against Raju under Sections 120-B (criminal conspiracy), 406 (criminal breach of trust), 420 (cheating), 468 (forgery for cheating) and 477-a (fraudulent cancellation of securities) of IPC.
Raju had on Wednesday disclosed a financial fraud in the company to the tune of Rs 7,800 crore by inflating profits and showing fictitious assets where none existed. The company’’s scrip has fallen nearly 80 per cent since the revelation was made. (ANI)

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