SFIO initiates prosecution against Raju & others; ED attaches 25 properties

Submitted by Ketan Sharma on Tue, 12/01/2009 - 13:34

Satyam ComputerThe Serious Fraud Investigation Office initiated prosecution proceedings against Ramalinga Raju and others in the Satyam case in a Hyderabad court on Monday.

SFIO, which is the investigation wing of the union corporate affairs ministry, would kick off proceedings on charges under the Companies Act 1956.

Speaking on the topic, corporate affairs Minister Salman Khurshid said, “We have done our job now it’s the enforcement directorate and the IRS who are left to file their prosecutions.”

Separately, the Enforcement Directorate has attached 25 properties worth over Rs. 50 crore belonging to the Ramalinga Raju and his family members.

Attached properties include vast agricultural plots in Chennai, Tirpur, Keelam and Khajipattu and Nagpur.

Last week, the Enforcement Directorate had attached three flats, showing purchasing value at Rs. 81 lakh each.


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