Gland Pharma will transfer six million shares owned by companies promoted by Satyam Computers' B Ramalinga Raju and his kin to an escrow account on the direction of the Enforcement Directorate (ED), a top company official said on Wednesday. Company Type SMEs. In terms of roll out, he says, "we intend to launch in Hyderabad by last week of September and in a year from then cover all the metros and within a year thereafter all the spokes around each metro like now in Hyderabad and later taking it to regions like Vijayawada, Vizag and Warangal in Andhra and Telangana. "Urban India, with 400 million people, is the target universe we are going after. The new board of fraud-hit Satyam Computer Services will meet again on Saturday to look for ways to raise new funds. The Balance Sheet carries as … He was once considered the IT czar and the Bill Gates of Andhra Pradesh, who founded and built Satyam into one of the top IT companies in India.B. The services to be offered by CallHealth at home include doctor consultation, diagnostic tests, delivery of medicines, professional homecare services (like nursing and physiotherapy) and these can be booked through a phone call, website and a mobile app. ", Satyam founder Ramalinga Raju (Source: Reuters), Renault-Nissan may cut 1,000 jobs, output at Chennai factory. PTI Photo, India Inc's top-line growth to skid to seven-quarter low in Q4 FY15: CRISIL Report, Rupee closes 7 paise lower on dollar demand. K Ramalinga Raju(KRR) Address - Door No 49-28-15, Madhura Nagar, Visakhapatnam Andhra Pradesh , 530016 Industry Food , FMCG , Agriculture. About Ramalinga Raju and His Life before Satyam Scam On 16th September 1954 in the small town of Bhimavaram in Hyderabad, Ramalinga was born to Satyanarayan Raju, after whom the company … New York judge Barabara S Jones approved `pauper` status for Raju, his brother Rama Raju, Satyam`s former chief Hyderabad: The ED has instructed Gland Pharma to transfer its six million shares owned by companies promoted by Satyam Computers' B Ramalinga Raju and his kin to an escrow account following the city-based drug company's Initial Public Offering (IPO), a senior executive of the Gland Pharma said on Wednesday. Satyam was listed on the New York Stock Exchange in 2001 and the revenues exceeded $1 billion in 2006 and $2 billion mark in 2008. 1 lakh each for release on bail, but the amount was restricted to Rs. Former Managing Director Satyam Computers B Ramalinga Raju, who is accused in the 7000-crore IT Scam arrives for his final hearing at Nampally criminal court in Hyderabad on Thursday. Subsequently, the Company Law Board allowed IL&FS to acquire the company in 2011. Hyderabad: B Ramalinga Raju gave consent, taking U-turn now, charges Netflix Sagar Kumar Mutha / TNN / Updated: Nov 21, 2020, 08:55 IST Facebook Twitter Linkedin EMail It was founded by Ramalinga Raju in 1987 and rapidly grew into one of the biggest names in the industry. Read Politics news, current affairs and news headlines online on Ramalinga Raju News Page-6 today. Ten firms owned by Raju and his family members held six lakh shares … The new mobile hospital services company, according to informed sources in the Kshatriya community, which Ramalinga Raju belongs to, has been named 'On Call' and was supposed to be rolled out on November 2, 2014, but got indefinitely postponed. Raju was also well respected for his involvement in corporate social responsibility. More Companies Search easily on Mobile also. The new venture, CallHealth, is being positioned as a supermarket of healthcare services, a first-of-its-kind healthcare services aggregator. While the Satyam scam prised open the dark underbelly of corporate governance, the buck didn't stop with the family of B Ramalinga Raju, the brain behind the scam. ramalinga raju infosys satyam computers wipro hcl cognizant tcs switch witch Story first published: Thursday, January 8, 2009, 18:19 [IST] Other articles published on Jan 8, 2009 Available. In the mid 1990s when Hyderabad was emerging on the world IT map, Satyam was the biggest name and it was no wonder that he shared the dais with the likes of Bill Clinton. The 60-year-old Raju, who already spent 32 months in jail before he was granted bail in 2011, has returned to prison. Explore more on Ramalinga Raju. It's been 10 years since B Ramalinga Raju, former CEO and Chairman of Satyam Computers, first admitted to have inflated the company's revenue to attract investors. Ramalinga Raju even shared the dais with Bill Clinton when the then US president visited Hyderabad in 2000. After surviving the dotcom bust, it started concentrating on software services. See the complete profile on LinkedIn and discover Ramalinga Raju.’s connections and jobs at similar companies. The same month World Bank blacklisted Satyam for eight years on grounds of data theft and bribing bank officials. All of these in about 24 months." Explaining the same, he says: "With our partners such as medical diagnostic firms, hospitals, imaging centres and wellness centres we have a back to back arrangement and get a discount because we are doing volumes for them....the way we are positioning ourselves is we are not like others healthcare providers that connect the dots and say get you in touch with a doctor, we are about enhancing the dots.". Est. The share price started tumbling. But it seems the family is now turning a new leaf, with the launch of a new company. The son of an agriculturist and hailing from West Godavari district in coastal Andhra Pradesh, he launched business in textile weaving and construction in 1977. Maytas Properties is a property development company founded in 2009. As it turned out, he perpetrated India's largest ever corporate fraud, with striking parallels to the Enron scandal. For the family of Ramalinga Raju, the last few years have been tough to say the least. Thallapalli, known to many within the industry as Hari, has been with Satyam Computer and later with Tech Mahindra for about 17 years. Ramalinga Raju and his brother Rama Raju, ex-managing director, were also asked to furnish sureties of Rs. Reacting to the launch of CallHealth, Vishal Bali, the co founder and chairman of Medwell Ventures, which offers speciality home healthcare services, tells Business Today:"Initiatives like CallHealth are good for the rise of entrepreneurship in healthcare and for all of us who have created new models, will have to target long term sustainability and consistent improvisation. B Ramalinga Raju is Former Chairman/Founder at Satyam Computer Services Ltd. See B Ramalinga Raju's compensation, career history, education, & memberships. A few weeks before the scam came to light, it had reported annual revenues of $2.4 billion and a total employee size of 53,000. New York: Ramalinga Raju, former chairman of Satyam Computers, who last year confessed to have inflated his company`s assets by over USD one billion, was declared a pauper by a court here exempting him from paying court costs. Ramalinga Raju christened his fledgling IT company 'truth'. On January 7, Ramalinga Raju’s faxed confession heralded the new year-- a Rs 7000 crore fraud that turned out to be the biggest in India Inc's history. But overnight, arguably the biggest fraud in India’s corporate history has reduced the chairman and his company … Ramalinga Raju was his usual self, calm and unperturbed, even as the final verdict of seven years of rigorous imprisonment was being announced by a special court set up by the Central Bureau of Investigation (CBI) for his role in the multi-crore accounting fraud at … He had no engineering background but his brother-in-law D.V.S. From B. Ramalinga Raju Chairman, Satyam Computer Services Ltd. January 7, 2009 Dear Board Members, It is with deep regret, and tremendous burden that I am carrying on my conscience, that I would like to bring the following facts to your notice: 1. No. That would be a population across all the key metros and large towns in India." CallHealth, he says, has so far invested Rs 60 crore and has hired a team of 900 people and is targeted at urban India. B Ramalinga Raju, founder of Satyam Computer, may be facing trial for the biggest corporate fraud India has seen, but it is Tata AIG General Insurance, which provided the Directors and Officers (D&O) liability cover to the company, that is footing his legal bill of Rs 60 crore so far, and will continue to do so till the court gives its verdict. Ramalinga Raju. Officials at the Registrar of Companies (ROC) raided a tiny office in Hyderabad's tony Jubilee Hills area and found 25 employees running 114 companies out of a single room. The incremental cost of going across and servicing the patient is going to be addressed through volumes that we are bringing in." One of the pioneers of offshoring, it started remotely delivering IT services to some clients in the US in 1991. He was once considered the IT czar and the Bill Gates of Andhra Pradesh, who founded and built Satyam into one of the top IT companies in India. Byrraju Foundation and the Satyam Foundation earned him reputation through various projects, especially the 108 medical emergency services in Andhra Pradesh and other states. Satyam ventured into the internet business through Satyam Infoway in 1988. 50,000 in … Incidentally, Thalapalli was among the handful of people who played, what some call, the 'midwife role' in the transition from Satyam Computer to Tech Mahindra following Ramalinga Raju's exit. Find Ramalinga Raju Latest News, Videos & Pictures on Ramalinga Raju and see latest updates, news, information from NDTV.COM. Get all the latest news and updates on Ramalinga Raju only on News18.com. He had to call off the deal within hours due to opposition by the shareholders. In January 2009, Raju resigned as chairman admitting to a massive fraud in the company. It was run by B. Ramalinga Raju. Earlier, he used to lead the HR function at Satyam. From the cosy environs of his posh bungalows and state-of-the-art offices to the claustrophobic confines of Chanchalguda jail in Hyderabad, life suddenly took a cruel turn for him. The success with offshoring was followed by the Y2K boom, which catapulted Satyam to the top league. But it seems the family is now turning a new leaf, with the launch of a new company. A media shy Ramalinga Raju headed the company as its chairman from 1987 until 2009 when he self-destructed himself and his company, which he had brought in to being and nurtured. A special CBI court on Thursday sentenced Ramalinga Raju, his two brothers and seven others to seven years in prison in what is described by the Central Bureau of Investigation as the biggest corporate fraud in India's history. It was in 2009 that this poster boy of India's IT industry had a dramatic fall when he resigned as chairman of Satyam Computer Services while admitting that the company's account books and profits were inflated over many years. After the scam, Tech Mahindra took over Satyam Computers in a government-sponsored auction and the new entity was named Mahindra Satyam. Asked about the founding of the company and the role of Ramalinga Raju in it, Thalapalli, says, it has been made amply clear to him that Ramalinga Raju "has no money in this and no role or official position in this venture." Speaking to Business Today, Hari Thalapalli, the newly appointed CEO, says, "this model is a mix of virtual and real and involving mobility with people actually coming home to a patient with a range of services being offered from e-consultation with a pick up and drop to places where he or she needs to go for a checkup." The company was so successful that in 2007 it signed a sponsor and official information technology (IT) services provider for the FIFA World Cup in 2010 and 2014, becoming the fists Indian company to do so. Raju also had a long list of awards, including the E&Y Entrepreneur of the Year Services award 1999, the Dataquest IT Man of the Year Award 2000, the Asia Business Leader Award 2002, and the Golden Peacock Award for Corporate Governance. Raju was arrested on the same day and later imprisoned. S’ profile on LinkedIn, the world's largest professional community. of Emp. View Ramalinga Raju. Est. For the family of Ramalinga Raju, the last few years have been tough to say the least. Bourses ask members not to allow Raju family to trade in markets. Regarding the business model, Thalapalli adds, "Our charges to the patient for the specialist or the service will be the same as the rate in the market. Satyam was the brand image of Andhra Pradesh. The trouble for Satyam began in December 2008 when it announced plans to buy two Maytas firms owned by Raju's sons. However,despite the crisis it is going through after its chariman Ramalinga Raju's disclosures,the stock price of the company has gained 40 per cent. He says Sandhya Raju, who is the daughter of P. R. Venketrama Raja, the Ramco vice chairman and managing director (she is also Ramalinga Raju's second son Rama Raju's wife), has been quite passionate about this initiative. Ramalinga Raju’s life after Satyam Scandal : The Nation was startled when the Satyam Fraud case came into light along with the confession made by the Satyam founder the CEO of the company Ramalinga Raju, his “Sharp Practice” took away all his Fame, Dignity, image, carrier to the tomb of disrespect and loathe. Also, he says, Sudhakar Nukala, who played an important role in the setting up of the 108 ambulance services by Ramalinga Raju, has been taken on board as the president and COO. Sector Private Sector. For it was the Metro Rail project in the city that played an important part in exposing Ramalinga Raju, chairman of Satyam Computers, close to nine years ago. The company is promoted by Sandhya Raju, daughter-in-law of B Ramalinga Raju, the founder of Satyam Computer. The Satyam brand became history in 2013 with the merger of Mahindra Satyam with Tech Mahindra. Thalapalli says this is a first of its kind in the world because "to our understanding there is no player who does an integrated play-virtual and physical-across all services ever." A Kuchipudi dancer, she fractured her leg about three years ago and during repeated visits to the hospital, she felt the need for a healthcare provider like CallHealth that could offer healthcare services at the doorstep of a patient in times of need other than emergencies. The scam came to light on January 7, 2009, when Ramalinga Raju confessed that the company's account books and profits were inflated over many years to … Hyderabad (the capital of the state) was identified with this company, and its founder-chairman B. Ramalinga Raju was a hero to youngsters. He left Tech Mahindra as its global head, consulting and enterprise solution and chief marketing officer. After a fresh Sebi order in Satyam case, stock exchanges BSE and NSE have asked trading members to ensure that eight entities including family members of the company's founder B Ramalinga Raju are not allowed to trade in the securities markets for seven years. has 6 jobs listed on their profile. Raju, an engineer, inspired him to enter the IT sector by setting up Satyam Computer Services in 1987. Total Turnover Available. It remained the fourth largest IT services firm for a long time with operations through the parent company and subsidiaries in as many as 65 countries. 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