The Satyam scandal resulted in a loss\u00a0 of around $3 billion besides doing irreparable harm to the reputation of India’s corporate sector.The ringleader behind the entire scam Ramalinga Raju however continues to live a life of luxury and comfort in one of India’s premier hospitals NIIMs.It is a deficiency of India’s Justice System where powerful people manage to avoid a life in prison by escaping to the comforts of a VIP treatment in hospitals on feigned medical problems.Most people in high places manage to escape punishment totally while some who are caught in the dragnet continue to receive special privileges.<\/p>\n
Ramalinga Raju who almost destroyed one of India’s biggest IT companies through greed and fraud,is visited daily by his relatives and gets special treatment in a separate room with an attached toilet.While ordinary prisoners get jail food,the Satyam founder manages to get home food.India’s Central Bureau of Investigation (CBI) has found that the Raju family swindled more than $500 million through years of continuous fraud and forging.However the court can’t question Raju as is has “been hospitalized” and will have to do with a questionnaire.Don’t think other prisoners and fraudsters get\u00a0 such benefits.India’s Legal System needs to do away with such privileged treatment of powerful people if it is to become a true democracy.<\/p>\n
\nThe VIP treatment for the man behind the country’s biggest corporate fraud, doesn’t just end with food and sports in the jail, Ramalinga Raju is reportedly getting treated with all possible comforts even at the hospital.<\/p>\n
\nAt the Nizam\u2019s Institute of Medical Science (NIIMS) ICCU where he is currently recuperating, Ramalinga Raju enjoys all the comforts of a VIP, says a Times News Network report.Ramalinga Raju is in what the staffers call the ‘VIP section’. He has a separate room, as opposed to just a bed separated from other patients with just a curtain. The room comes with an attached bathroom too.<\/div>\n<\/div>\nHe waited upon hand and foot by doctors who are available round the clock, along with his wife, Nandini Raju who is always by his side. While Raju was visited by his son, Teja Raju on Monday, Sep 7, Raju’s aides were seen hanging around the ICCU on Tuesday, Sep 8, says the report.<\/p>\n
To add to the privacy and the VIP-treatment in the name of vigil and security, five police personnel are always outside the room and hospital authorities have also blocked an entrance which leads to the in-patient ward of the hospital.<\/p>\n<\/blockquote>\n
Rajus siphoned off Rs 2,743 cr:CBI – Express India<\/a><\/h3>\n
\nPegging the total notional loss suffered by banks<\/span><\/a> and investors at Rs 14,162 crore ($3 billion) in India\u2019s biggest corporate fraud involving Satyam Computer, the CBI on Saturday revealed that the illegal gain to its promoters (B Ramalinga Raju) and family members was Rs 2,743 crore ($587 million). The total loss includes losses suffered by investors after the scam broke out and Satyam\u2019s share price crashed. <\/span><\/p>\n
Detailing the final investigation in Mumbai, J L Negi, General Manager of Reserve Bank of India on deputation to CBI, said, \u2018the emphasis was to find the audit trail. They (Raju and his coterie) challenged us and our priority was to show the accounting discrepancies with proper evidence.\u201d While not shying away from using the term \u201cbeauty of the investigation\u201d, Negi explained that it was only after CBI found that there were manual entries made in the system<\/span><\/a> to include fraudulent sales that the first piece of evidence was nailed (see box). <\/span><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"
The Satyam scandal resulted in a loss\u00a0 of around $3 billion besides doing irreparable harm to the reputation of India’s corporate sector.The ringleader behind the entire [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","content-type":"","footnotes":""},"categories":[61],"tags":[1247],"class_list":["post-1307","post","type-post","status-publish","format-standard","hentry","category-technology-sector","tag-corruption"],"_links":{"self":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts\/1307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/comments?post=1307"}],"version-history":[{"count":0,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts\/1307\/revisions"}],"wp:attachment":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/media?parent=1307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/categories?post=1307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/tags?post=1307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}