Ramalinga Raju Bio

Ramalinga Raju was born on September 16, 1954. He was the founder of Satyam Computers. He resigned from the Satyam board on January 7, 2009 after admitting that he was cooking books of Satyam. Satyam was ranked as one of the top five IT major companies in India. He confessed that there were fake entries of cash reserves of one billion US dollars in the company’s balance sheet. Raju is currently held in Hyderabad`s Chanchalguda jail on criminal charges including fraud, forgery, cheating, embezzlement and insider trading. Satyam was established in the year 1987 after trying his luck into other businesses such as construction and textiles. Raju & his team of 20 employees started Satyam that obtained the contracts for IT projects, mostly from US companies. Satyam then picked up significantly and became a multinational company with widespread span over many countries. Raju’s son had formed an infrastructure company named Maytas Infra. A bungled acquisition attempt involving Maytas in December 2008 led to a plunge in the share price of Satyam. Honors & Awards Ernst & Young Entrepreneur of the Year Services Award 1999 Dataquest IT Man of the Year Award 2000 Asia Business Leader Award 2002 E&Y Entrepreneur of the Year 2007 Golden Peacock Award for Corporate Governance in 2008