Satyam's Raju, 9 others get bail, sentences suspended by court

May 11, 2015

Hyderabad, May 11: A metropolitan sessions court here today granted bail to Satyam Computers founder B Ramalinga Raju and nine others and suspended their seven-year rigorous imprisonment sentence in the multi-crore rupee accounting fraud in the erstwhile IT firm.satyam raju

They had been taken into custody barely a month ago after the conviction in the trial court.

M Laxman, special judge for economic offences, said the execution of "substantive and default" sentence is suspended for Raju and his brother and then managing director of Satyam, B Rama Raju, on furnishing of personal bonds of Rs one lakh each and two sureties of the like sum.

"They shall also pay one tenth of fine amount within four weeks from the date of release on bail before the primary court (trial court), failing which they must undergo default sentence," the judge said in the order.

With regard to eight others, the court suspended their sentences and granted them bail on execution of personal bonds of Rs 50,000 each and two sureties of like sum each.

They too were directed to pay one tenth of the fine amount within four weeks from the date of release.

Raju, the main accused, and others, currently lodged in Cherlapally Central Prison, had filed appeals in the sessions court last week, challenging conviction and the sentences awarded by the Additional Chief Metropolitan Magistrate's Court (ACMM) in the over Rs 7,000-crore scandal which came to light in 2009.

On April 9, the ACMM court, which tried the Satyam case probed by CBI, had sentenced Raju and others to seven years' rigorous imprisonment for criminal conspiracy and cheating among other offences.

It also imposed Rs 5.35 crore fine on Raju and Rama Raju, while others were fined Rs 25 lakh each.

Raju and other convicts were asked to give an undertaking to cooperate for early disposal of the appeals without seeking undue adjournments. In the event of failure, the judge said, the prosecution can apply for revocation of suspension of sentences.

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News Network
April 29,2020

New Delhi, Apr 29: India's tally of COVID-19 cases has reached 31,332, said the Union Ministry of Health and Family Welfare on Wednesday. With 73 more deaths reported, the number of deaths due to coronavirus in the country breached the 1,000 mark and stood at 1,007.

The tally is inclusive of 22,629 active coronavirus cases, 7,695 patients who have been cured/discharged and one patient migrated.

According to the Ministry, Maharashtra has the most number of COVID-19 cases with 9,318 cases of which, 1,388 patients have been cured/discharged while 400 patients have succumbed to the virus.

Gujarat has the second-highest number of positive cases in the country with 3744 cases including 434 patients cured/discharged and 181 deaths.

Delhi's tally stands at 3314 cases of which, 1078 patients have recovered while 54 patients have succumbed to the virus.

Madhya Pradesh has a total of 2387 positive cases including 377 patients recovered/discharged and 120 fatalities.

Meanwhile, Goa (seven cases; all seven recovered), Arunachal Pradesh (one case; now recovered), Manipur (two cases; both recovered), Tripura (two cases; both recovered) have reported no new cases of COVID-19.

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News Network
June 18,2020

New Delhi, Jun 18: Prime Minister Narendra Modi on Thursday launched the auction process for 41 coal blocks for commercial mining, a move that opens India’s coal sector for private players, and termed it a major step in the direction of India achieving self-reliance.

Launching the auction of mines for commercial mining, that is expected to garner ₹33,000 crore of capital investment in the country over next five to seven years, the Prime Minister said India will win the coronavirus war and turn this crisis into an opportunity, and the pandemic will make India self-reliant.

The launch of the auction process not only marks the beginning of unlocking of the country’s coal sector from the lockdown of decades , but aims at making India the largest exporter of coal, the Prime Minister said.

Presently, despite being the world’s fourth largest producer, he said India is the second largest importer of the dry-fuel.

“Allowing private sector in commercial coal mining is unlocking resources of a nation with the world’s fourth-largest reserves,” he pointed out.

Major scams had taken place in coal action earlier, but the system has been made “transparent” now, the Prime Minister said lambasting past policies of keeping the sector closed.

Mr. Modi said that this auction process will result in major revenues to states and create employment besides developing the far-flung areas.

The commencement of auction process of these blocks, part of the series of announcements made under ‘Atmanirbhar Bharat Abhiyan’, is likely to contribute ₹20,000 crore revenues annually to the state governments.

In line with the Prime Minister’s self-reliance call, the aim behind the auction process is to achieve self-sufficiency in meeting energy needs and boosting industrial development.

The government has taken an important decision to open up coal and mining sector to competition, capital and technology, he said.

Coal and Mines Minister Pralhad Joshi, who was also be present during the launch event, said ₹50,000 crore is being invested in the sector to jack up India’s coal output to 1 billion tonne.

With a view to achieve self-reliance in the coal sector, the Ministry of Coal in association with FICCI launched the process of auction of 41 coal mines under the provisions of Coal Mines (Special Provisions) Act and Mines and Minerals (Development and Regulation) Act.

Upon attainment of peak rated capacity of production of 225 million tonnes (MT), the government said, these mines will contribute about 15% of the country’s projected total coal production in 2025-26.

It will also lead to employment generation for more than 2.8 lakh people — direct employment to approximately 70,000 people and indirect employment to approximately 2,10,000 people, as per the government.

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Agencies
June 7,2020

New Delhi, Jun 7: The Islamic Centre of India on Saturday issued an advisory for those visiting mosques in view of the Centre’s decision to allow reopening of religious places from June 8.

Islamic Centre of India chairman Maulana Khalid Rasheed Farangi Mahali advised people above 65 years and under 10 years of age not to visit mosques and instead offer prayers at home.

He also advised against crowding in mosques, stressing that not more than five people should be present at a time and social distancing be maintained, with the ‘namazis’ using masks and keeping a distance of six feet among themselves while offering prayers.

He added that the situation would be reviewed after 15 days and if required, another advisory would be issued.

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