11 September 2015
SEBI (Securities and Exchange Board of India) today asked ten entities connected to Satyam Scam to pay Rs.1,800 Cr. Entities include ex-chairman, B. Ramalinga Raju and other family members to disgorge Rs. 1800 Crore plus Interest which are considered “ill-gotten gains” made by them.
SEBI in pursuant to the SEBI order dated July 15, 2014 said that Mr. B. Ramalinga Raju and his brother, B. Rama Raju have jointly disgorge Rs 56,16,85,195. They made this money by selling /transferring their shares in Satyam Computers.
It is dis-hearting to see Raju and his family going through these enormously lengthy procedures, once knowing as the person who brought IT to India, especially even now, many in AP still consider Raju as their IT man. More wealth, more filth. Corporate India learnt a valuable lesson through Satyam Scam.