Saturday, January 10, 2009

Rajus sent to judicial custody till Jan 23

atyam Computer's disgraced founder Ramalinga Raju and his brother Rama Raju were today remanded to judicial custody till January 23 and would be lodged in the Chanchalguda central jail. The Rajus, who were arrested last night and subjected to several hours of interrogation, were produced before the 6th Chief Metropolitan Magistrate at the judges' quarters at Marredpally in Secunderabad this evening.Raju's lawyer Bharat Kumar said his clients were remanded to judicial custody till January 23. He said the court has directed medical treatment to be given by a government doctor to Raju, whose BP was fluctuating abnormally.Raju's counsel said he will move a bail application on Monday. After the magistrate's order, the Rajus were whisked away in a van with tinted glasses while police kept the media away by barricading the area.The police had subjected the Rajus to a lengthy interrogation process after their arrest last night, but Ramalinga Raju, 54, the elder of the two, had in the morning complained of chest pain and uneasiness -- following which doctors from private Care Hospital and a government hospital conducted a medical check-up. A case has been filed against Raju under sections 120-b (criminal conspiracy), 406 (criminal breach of trust), 420 (cheating), 468 (forgery for cheating) and 477-a (fraudulent cancellation of securities) of IPC. Raju had on Wednesday disclosed a financial fraud in the company to the tune of Rs 7,800 crore by inflating profits and showing fictitious assets where none existed.

The company's scrip has fallen nearly 80 per cent since the revelation was made.

No comments: