Raju brothers treatment in jail

From having to share their cell and toilet with other prisoners like bootleggers and sleeping on the ground, disgraced Satyam founder B. Ramalinga Raju and his brother B. Rama Raju are now entitled to benefits like a special room, cots, pillows, a separate toilet and kitchen.
Ever since they were sent to Chanchalguda Central Jail here on January 10 for the massive Rs 7000 crore fraud, the Raju brothers were being treated as ordinary prisoners.
They will now enjoy special class prisoner status following an order by a city court on Friday on a plea moved on behalf of the accused.
The Rajus will now get a special cell, cots, pillows, mattresses, sheets, mosquito nets, a separate kitchen, toilet, newspapers, pen, writing pads and television. They can also have home food.
The disgraced founder and former chairman of Satyam Computer Services Ramalinga Raju and former managing director Rama Raju were being treated as ordinary prisoners ever since their arrest on January 9 on charges of cheating, criminal conspiracy, forgery and falsification of records.
The court passed the orders on Friday on the basis of an inquiry conducted by Hyderabad district collector, who certified that Rajus were used to a certain lifestyle.
It was exactly a month ago (January 7) that Ramalinga Raju quit as Satyam chairman while admitting to the Rs 7000 crore fraud, the biggest in India's corporate history.
Sixth additional chief metropolitan magistrate D. Ramakrishna had reserved orders on the special status petition on January 16. The counsel for Rajus had sought the special treatment under rule 730 of the Andhra Pradesh Prisons Rules, saying they had stature in society and were used to a certain lifestyle.
The prosecution, however, opposed the same and remarked that those who made money at the cost of the poor didn't deserve such privileges.
Having committed such a "monumental fraud", the Rajus do not enjoy any status as such and the question of a special status in jail does not arise, additional public prosecutor Ajay Kumar had contended.

Rs.600 cr Bank loan for satyam

The cash-strapped Satyam Computer Services would borrow Rs 600 crore ($130 million) from banks to meet its working capital requirements, the company confirmed on Thursday after a two-day board meeting here.
“This funding, along with healthy collections, is expected to help the company tide over its financial challenges,” the IT bellwether said in a statement, but did not name the banks, which had sanctioned the funds.
Satyam also reaffirmed that the January salaries for its global employees and February salaries (fortnightly) for its US-based staff have been paid from internal accruals.
“Completing the complex financial restatement exercise, including announcement of third quarter results and ensuring prudent financial operations will be the primary focus in the next few weeks,” Partho Datta, who has been appointed as one of the two special advisors to the board, said.

Datta, a veteran chartered accountant, will be overseeing the financial operations of the company.

Former Tata Chemicals managing director Homi Khusrokhan is the other special advisor appointed to assist the six-member Satyam board.

The board also appointed A.S. Murty, a Satyam veteran, as the new chief executive of the IT bellwether with immediate effect.

Murty was Satyam's chief delivery officer, responsible for delivery excellence and leadership development.

“Murty is a Satyam veteran of 15 years, who has been in its forefront since January 1994. He brings to play a deep understanding of the organisation, proven expertise in leading a business unit, overseeing global delivery, nurturing customer relationships and spearheading the entire gamut of the human resources function,” board member Deepak Parekh said in a statement.

C. Achuthan, former presiding officer of the Securities Appellate Tribunal and a Satyam board member, chaired the two-day meeting.