December 9, 2014 8:32 AM

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Satyam founder Ramalinga Raju gets six months jail <br/>

Special Economic Offences Court in Hyderabad sentenced Satyam founder-chairman B Ramalinga Raju and his brother Rama Raju to six months in jail in the cases filed by the Serious Fraud Investigation Office (SFIO) of the Ministry of Corporate Affairs under the Companies Act.The court also imposed fines of different amounts to 11 individuals who figured in the seven cases filed by the SFIO. The highest fine of Rs 2.66 crore payable in two months was for Krishna G. Palepu, a director then. The court struck down one case and restricted the sentence to mere fine in two others. In the remaining four cases, imprisonment was awarded to the Raju brothers, whole time director Ram Mynampati and chief financial officer Srinivas Vadlamani.All the accused, except Mr. Palepu, were present in the court when the verdict was pronounced by the judge K. Laxman. However, the operation of the imprisonment and fine was suspended for a month to enable the accused to appeal in a higher court. Raju is currently out on bail.

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