
His brother Rama Raju received identical punishment while eight others — his relatives, employees and executives of audit firm PriceWaterhouse — were each given jail terms of 7 years and asked to pay Rs 25 lakh as fine.
"It is a great lesson to fledgling entrepreneurs that there are no shortcuts to success. While you need to be ambitious and aggressive in growing your business, you have to do it with utmost respect for the laws of land," said Krishankumar Natarajan, the CEO of Mindtree and a former chairman of software industry grouping Nasscom.
Raju confessed to the fraud in January 2009 after a failed attempt to reverse-merge Satyam — then believed to be India's fourth-largest IT firm with 50,000 employees — with his privately owned realty and infrastructure businesses. Worried the scandal could damage India's reputation and cause the loss of thousands of jobs, the government stepped in to supersede the board and arranged the sale of Satyam to the Mahindra Group in an auction.
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