BYRRAJU RAMALINGA RAJU garu
Byrraju Ramalinga Raju (born September 16, 1954) is the founder of Satyam Computers and was its Chairman until January 7, 2009 when he resigned from the Satyam board after admitting to corporate fraud. Satyam was created by Ramalinga Raju and others and was until recently perceived to be amongst the top Indian IT vendors. Raju has allegedly admitted overstating its cash reserves by 1.5 billion.Later, allegations have been made that the company's assets were not inflated, but instead siphoned off by Ramalinga Raju. Raju is currently held in Hyderabad's Chanchalguda jail on criminal charges including fraud, forgery, cheating, embezzlement and insider trading.
Career
Raju founded Satyam in 1987 after venturing earlier into other businesses such as construction and textiles. He started an IT company with 20 employees that obtained contracts for IT projects, mostly from US companies. Satyam rapidly developed and became a multinational company with thousands of employees spread over many countries. Raju showed a strong social orientation and has been furthering the cause of social transformation through Byrraju Foundation and EMRI.
Awards
- Earnst & 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 (revoked after the fraud was confessed)
- Golden Peacock Award for Corporate Governance 2008 (revoked after the fraud was confessed)
External links
KYF