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Jan 10, 2009

Satyam Computers former Chairman arrested

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The Satyam Computers scam came to lime light and in the latest development the former Chairman B Ramalinga Raju has been arrested on Friday night by Hyderbad police. Ramalinga Raju surrendered on Friday night and the police reportedly interrogated him and his brother.

Ramalinga Raju is scheduled to report before the court on Saturday. The government has order to the inspection of eight firms of Satyam Computers under the companies act, the media reports quote.

Following the fraud, the stock market fell on Friday, where as the shares of the Satyam Computers mark huge loss. The fourth largest IT company of India, Satyam's case has brought the investors huge loss. The impact of the fraud has been taking toll on the employees those may not reportedly receive their salaries for two months. Still the Satyam - 'the truth' is yet to be unveiled.


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