SEBI slaps 1800 Cr penalty to Rajus

ramalinga-raju-478487The Securities and Exchange Board of India SEBI has slapped penalty of Rs 1,800 crore on Satyam B. Ramalinga Raju and his family members accused in Satyam case.

SEBI has asked Raju’s to return Rs 1,849 crore in unlawful gains with interest. Beside 1849 crore , they will have to pay close to Rs 1,500 crore as interest .

Hyderabad court had suspended the sentences of Raju and nine others in the accounting scam and granted them bail in May.