Hyderabad News

Raju may face up to seven years' imprisonment, say legal experts

B. Ramalinga Raju, who Wednesday morning shocked the corporate India by confessing to a Rs.65.92-billion ($1.3 billion) fraud in Satyam Computers, may face up to seven years' imprisonment if proven guilty, legal experts said.12:00 AM on January 08

YSR urges PM to form team to manage Satyam affairs

Andhra Pradesh Chief Minister Y.S. Rajasekhara Reddy Wednesday urged Prime Minister Manmohan Singh to constitute a management team to run the affairs of crisis-ridden Satyam Computers to restore the confidence of global customers.11:32 PM on January 07

Besieged Satyam board to meet Saturday

The besieged board of Satyam Computer Services Ltd will meet Saturday to discuss the various issues that rocked the IT bellwether since the Maytas deal fiasco Dec 16, culminating in the dramatic resignation of its co-founders who admitted to a massive revenue fraud in the company over the years.11:32 PM on January 07

New York Stock Exchange halts trading in Satyam stock

The New York Stock Exchange Wednesday halted trading in the stock of beleaguered Satyam Computer Services prior to the opening of the market at 9.30 a.m. US eastern time, the NYSE said in a statement.11:30 PM on January 07

Text of Satyam interim CEO's message

Following is the transcript of a recorded video message by Satyam Computer Services interim CEO Ram Mynampati:9:02 PM on January 07

Police action against Ramalinga Raju unlikely without complaint

The Hyderabad police are not likely to take any action on their own against B. Ramalinga Raju, who Wednesday admitted to a Rs.40 billion fraud while resigning as chairman of IT major Satyam Computer Service Limited.9:00 PM on January 07

Beleaguered Satyam forms crack team for fire-fighting

Battered IT bellwether Satyam Computer Services Ltd Wednesday formed a crack team to run the day-to-day operations of the beleaguered company following the dramatic resignation of its founder-chairman and managing director from the board.8:31 PM on January 07

The rise, rise and fall of Satyam

Satyam founder B. Ramalinga Raju, who shocked India by admitting massive fraud over several years, was the Ernst and Young Entrepreneur of the Year in 2007 and the company won the Golden Peacock Global Award for Excellence in Corporate Governance given by the World Council for Corporate Governance.7:00 PM on January 07

Ramalinga Raju: From Andhra's pride to disgrace

Satyam was the brand image of Andhra Pradesh, Hyderabad was identified with this company, and its founder-chairman B. Ramalinga Raju was a hero to youngsters. But overnight, arguably the biggest fraud in India's corporate history has reduced the chairman and his company to a big zero.6:30 PM on January 07

Text of Raju's letter to Satyam board

Following is the text of Satyam founder chairman B. Ramalinga Raju's resignation letter to the IT firm's board:6:30 PM on January 07

Reliance Digital to sell Reva cars

Reliance Digital, the consumer electronics arm of Reliance Retail, will sell Reva electric cars through its outlets across the country.6:30 PM on January 07

Satyam fraud shocks investors, employees

Satyam Computer founder-chairman B. Ramalinga Raju's disclosure of committing a Rs.40-billion ($823-million) fraud has shocked corporate India, especially the investors and over 50,000 employees of the country's fourth largest IT services company.6:01 PM on January 07

Satyam top brass had to know about fraud: Analysts

Satyam Computers founder-chairman B. Ramalinga Raju, who opened a Pandora's box Wednesday by revealing inaccuracies in his company's balance sheet to the tune of Rs.4,578 crore (Rs.40 billion or $823 million), has cleared board members of any knowledge of the happenings. But his claim has baffled analysts and the government.6:00 PM on January 07

Ocimum Biosolutions Becomes an Authorized Service Provider for NuGEN Ovation® Systems in India

Global alliance enables gene expression profiling from challenging clinical samples5:35 PM on January 07

Kedhar Groop announces launch of its NPO "Chrysalis Dimples", a CSR initiative

'Chrysalis Dimples' launched with an aim to provide a platform to the various members of society who, irrespective of their personal and professional standing, feel a strong desire to give back to society and to participate in building a nation based on more solidarity and justice - by providing basic education to the undereducated children and adults of India.4:43 PM on January 07