Satyam scam: Sebi asks Raju family, others to return Rs1,800 crhttps://indianexpress.com/article/business/business-others/satyam-scam-sebi-asks-raju-family-others-to-return-rs1800-cr/

Satyam scam: Sebi asks Raju family, others to return Rs1,800 cr

Raju’s family and others will also have to pay close to Rs 1,500 crore as interest on the disgorgement amount.

The Sebi has asked 10 entities linked to the main accused B Ramalinga Raju — including his mother, brother and son — to disgorge over Rs 1,800 crore worth of illegal gains made by them in a fresh order in the nearly seven-year old Satyam scam case.

Raju’s family and others will also have to pay close to Rs 1,500 crore as interest on the disgorgement amount, as the penalty has been levied with effect from January 7, 2009 — the day B Ramalinga Raju admitted to the fraud.

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In Thursday’s order, Sebi has also fixed individual liability of Raju, his two brothers and other individuals and companies related to the promoter family.

The latest penalties follows an order passed by Sebi in July last year, wherein the regulator had barred Raju and four others for 14 years and asked them to return Rs 1,849 crore.