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The Mint Report for 26 October 2010

The Mint Report for 26 October 2010
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First Published: Wed, Oct 27 2010. 12 52 AM IST
Updated: Wed, Oct 27 2010. 10 42 AM IST
Satyam founder B. Ramalinga Raju will go back to jail. The Supreme Court has canceled Raju’s bail along with those of five other accused in the Satyam accounting fraud. Tuesday’s decision came after the CBI told the court Raju and the others were interfering in the investigation. It claimed he was trying to unload his assets while out of prison and that he was putting pressure on witnesses. The Andhra Pradesh high court had granted Raju bail back in August. He and the other accused have until 8 November to surrender.
India is unlikely to place controls on all the foreign money pouring into the country. On Tuesday finance minister Pranab Mukherjee said he was not considering any caps on foreign institutional investors. He said that India had faced such situations in the past and had dealt with them without having to employ more stringent actions like putting restrictions on FIIs. Mukherjee’s statement comes at a time when other Asian countries like Thailand are levying new taxes on sovereign bonds owned by foreigners.
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First Published: Wed, Oct 27 2010. 12 52 AM IST