Raju Brothers Arrested in Satyam Fraud

by Sid John    January 09, 2009

Former Satyam chairman Ramalinga Raju has been arrested on the account of Satyam fraud. His brother, former Satyam Managing Director Ram Raju has also surrendered and arrested before the Andhra Pradesh Director General of Police on Friday night.

Ramalinga Raju has been charged under various sections of the Indian Penal Code including Section 120B for criminal conspiracy, under Section 409 for breach of trust, under Section 420 for cheating, and under Section 468 and Section 471 for forgery.

Police is currently interrogating the whole situation. "The government wants to protect the interests of the employees (53,000) and other stakeholders," Company Affairs Minister Prem Chandra Gupta told reporters in New Delhi.

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