Flash News:Satyam Founder Ramalinga Raju surrenders before Andhra police

Hyderabad, Jan 9: Ramalinga Raju and his brother Rama Raju have been arrested under IPC 120b, 409, 420, 468 and 471 for criminal conspiracy. The Raju brothers have also been arrested for falsification of records before the Andhra Pradesh police chief Friday night.Raju reached the office of Andhra Pradesh Director General of Police S.S.P. Yadav and surrendered, the police said.

"I am prepared to subject myself to the laws of the land and face the consequences thereof" Raju had said in a confessional statement.

Raju’s move came after a criminal case was registered against him by the Criminal Investigation Department (CID) in the Rs.70 billion accounting fraud in the company.

The police are likely to present him before a magistrate Saturday morning.

Raju quit as chairman Wednesday while admitting that the company cooked its books resulting in an “inflated (non-existent) cash and bank balances” over several years


Videos Ramalinga raju surrenders,arrested by Andhra Police