Satyam’s disgraced Raju brothers sent to jail
By IANSFriday, January 9, 2009
HYDERABAD - Satyam Computer Services disgraced founder B. Ramalinga Raju and his brother B. Rama Raju were Saturday sent to the Chanchalguda central jail after they were remanded in judicial custody till Jan 23 for the Rs.70 billion financial fraud in the company.
Since it was already sunset by the time the Raju brothers were brought to the jail, they were not housed in the barracks. Police sources said they would be kept in the administration block Saturday night and shifted to the barracks Sunday. They will be kept in separate barracks.
‘Since Ramalinga Raju’s blood pressure is fluctuating abnormally, the honorable magistrate directed the jail authorities to constantly monitor his health and provide treatment,’ his counsel said.
Bharat Kumar clarified that Ramalinga Raju did not seek hospital treatment.
The duo were produced before the VI additional chief metropolitan magistrate D. Ramakrishna around 5 p.m. Saturday. After hearing nearly an hour of arguments by the counsel for police and the Raju brothers, the magistrate sent them to judicial custody for two weeks.
The 54-year-old Ramalinga Raju and his brother were arrested late Friday after they surrendered before police following registration of a criminal case against them by the Crime Investigation Department (CID). However, police claimed that they were arrested.
They spent Friday night in CID custody at the state police headquarters. The officials interrogated them for several hours Friday night and on Saturday to gather evidence. Since Saturday is a court holiday, they were produced at the magistrate’s residence.
The arrests came two days after Ramalinga Raju confessed Wednesday to the country’s biggest financial fraud of Rs.70 billion and resigned as chairman of the company he started in 1987.
His brother Rama Raju, who was the managing director of the company, also resigned the same day.
The brothers have been charged with cheating, criminal conspiracy, forgery and criminal breach of trust, among other things.
