Ramalinga Raju: Chairman Resigned From his post. Ramalinga Raju Confessing to Fraud
MUMBAI- There was no pusterum for the Indian markets since satyam Computer Services fraud came to light today. Ramalinga Raju is Chairman of Satyam Computer. But Today Ramalinga Raju Chairman of Satyam Computers resigned from his post. Raju has put in their papers and waiting for the board's decision.
Raju has written a letter to the board on the balance sheet. Satyam Computers lost a staggering 47% within minutes of Ramalinga Raju statement that the company's profits were inflated. The broader index lost 2,900 mark and fell to an intra-day low 2,888.20 and a high of 3147.20.
Satyam Ramalinga Raju confesses fraud
Satyam Computers founder and chairman Ramalinga Raju has resigned from the board. Confessing to fraud Raju has written a letter to the Board to provide information about how the balance is inflated cash balances of Rs 5,040 crore and accrued interest of Rs 376 crore is absent. Raju has suggested Ram Maynampati as the interim CEO. Click Here To Read Ramalinga Raju Resignation Letter
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