Ramalinga Raju, Satyam chairman, has been arrested on Fri. night, Jan. 9. Ramalinga Raju voluntarily surrendered to police. Before Raju’s arrest, gossips had spread that Raj would be arrested around midnight Friday. Raju had confessed to fraud consisting of Rs 7,000-crore. Raju and his brother were arrested in style as the brothers drove to the DGP’s office in their Mercedes Benz limos.

The Hyderabad Government has superceded Satyam’s board of directors. This signaled the current board members were not above suspicion. The Andhra Pradesh Police filed fraud charges against Raju. CM Y S Rajasekhara Reddy was alleged to be soft on Raju.

Breaking News:Ramalinga Raju resigns as Satyam Chairman, admits “fraud” in Satyam-Videos-The Times of India Video. (In English)

Satyam, News from Satyam, Message from Ram Mynampati, Satyam Interim CEO, Satyam CEO message video (in English)

Ramalinga Raju arrested news.

Satyam scandal.

Ramalinga Raju has been interrogated for 18 hours. Raju complained he was suffereing from chest discomfort and has been given medical attention.The Government does not believe Raju was the sole person knowledgable about the fake accounts of Satyam.(Satyam scandal)

The Court decided to send Ramalinga and Rama Raju to judicial custody till Jan 23.

Vadlamani Srinivas, the chief financial officer of India’s Satyam Computer Services Ltd. was arrested Saturday, Jan.10. Vadlamani Srinivas‘ arrest is reported.

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This entry was posted on Friday, January 9th, 2009 at 6:56 pm and is filed under India News.