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Ramalinga Raju arrested, sent to CID custody

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    • ENS Economic Bureau Tags : business, satyam, Raju, brother arrested Posted: Saturday , Jan 10, 2009 at 0924 hrs

    Satyam’s new board will decide on the new management of the company, the minister said. “The Government has decided to approach the Company Law Board to ensure that the operations of the company continue uninterrupted.”

    There was, however, no decision yet by the Government to take over Satyam’s management, Gupta said.

    Raju will appear before a Securities and Exchange Board of India (SEBI) probe team at 4 pm tomorrow to answer questions on the sale and purchase of Satyam shares during 2004 and 2009. His counsel Bharat Kumar appeared before SEBI on behalf of Raju today.

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    SATYAM FRAUD- OVER STAFFEDBy: SIV | 10-Jan-2009 Reply | Forward Beware of ANDHRA PROMIOTOSNext to follow are NAGARJUNA and IVRCL. Please think twice before buying the sharesof companies promoted by Andhraites. Its really amusing to see OPM of SATYAM was mere 3%, I think SATYAM is overstaffed and many staffs dont have work and loot money sitting idle. Its high time the new team look all these issues and give some confidence to investors like me
    Corporate world is decided by Politicians? By: Mayas | 10-Jan-2009 Reply | Forward I think what CB-CID dept. knows about the corporate accounts and they said to be grilled Raju. Useless CM... This YSR would bring his own people into the board.. You see the world.. this world is controlled by ethicaless politicians...who are not constructive....Atleast, other corporates see to that politicians shouldnt involve into corporate affairs...
    Raju has to be tried in USBy: madhu | 10-Jan-2009 Reply | Forward Americans are killed in Mumbai terror, Hence pursued by US. American investors are affected, so satyam fraud also to be pursued. Otherwise Raju
    Satyam = Fraud in Raju's dictionaryBy: Kalpathy Venkataraman | 10-Jan-2009 Reply | Forward Karunandhi, Lalu, Sibu Soren, Mulayam, Jayalalitha, Sonia and other stalwarts in corruption must be wondering that Raju has beaten them in the art of stealing public money. It is very likely they will send the next generation to Raju for on the job training. It looks like the amount of money swindled by Raju is far in excess of the Spectrum scandal. Raju has elevated India's corruption culture several notches up. With all his money power, I am sure he will come out clean like all our corrupt politicians very soon. He should not have done this unholy thing under the banner of the scared Sanskrit word "Satyam".
    Act tough on 'Spectrum' alsoBy: A.NATARAJAN | 10-Jan-2009 Reply | Forward It is a great shame and disgrace as Satyam's shares were listed in Overseas Stock Exchanges also. Government should act strongly against persons responsible for this fraud, which should act as a deterrent. We also expect the Government to act swiftly on the 'Spectrum' fraud, which involves huge money. The persons behind those frauds should be brought to books, as it involves huge revenue loss to the Government.
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