Ramalinga Raju hospitalized for chest pain; condition stable

Ramalinga Raju hospitalized for chest pain; condition stable
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First Published: Tue, Sep 08 2009. 04 00 PM IST
Updated: Tue, Sep 08 2009. 04 00 PM IST
Hyderabad: The scam-tainted founder of India’s Satyam Computer Services was stable on Tuesday after he was admitted to hospital a day earlier with chest pain, hospital authorities said.
Ramalinga Raju has been held in jail since January when he revealed India’s biggest corporate fraud and pushed the IT services company to the brink of collapse.
“We have kept him in an intensive care unit and monitoring his condition on a regular basis. His condition is stable at this point in time,” N Satyanarayana, medical superintendent at Nizam’s Institute of Medical Sciences, told Reuters.
The Economic Times newspaper earlier quoted a lawyer for Raju as saying the disgraced former chairman of Satyam had suffered a heart attack and his condition was serious.
Raju’s lawyer was not immediately available for comment.
In April, India’s federal crime bureau said it had filed charges against nine people including Raju for alleged involvement in accounting fraud at the outsourcing firm.
The charges include criminal conspiracy, cheating and forgery and falsification of accounts, the Central Bureau of Investigation had said.
Satyam was sold to India’s Tech Mahindra Ltd in an auction in April, and was subsequently renamed as Mahindra Satyam Ltd.
Raju, a management graduate from Ohio University who founded Satyam in 1987, shocked investors in January saying profits of the company had been overstated for years and assets falsified.
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First Published: Tue, Sep 08 2009. 04 00 PM IST