A special CBI (Central Bureau of Investigation) court in Hyderabad on Thursday found Satyam Computers former chairman B Ramalinga Raju and nine others guilty in the multi-crore scam.
The court announced a 7-year prison term and a fine of Rs 5 crores for Raju.
Raju and other nine were convicted under different sections of the Indian Penal Code (IPC), including 120B (criminal conspiracy), 409 (criminal breach of trust), 420 (cheating), 471(using forged records as real) and 477-A (distortion of records).
All the ten accused were appear in the court, where media was not permitted, when the verdict was affirmed.
The Satyam scam had become exposed on January 7, 2009, after the company’s originator and then Chairman B.Ramalinga Raju professedly confessed to manipulating his organization’s record books and inflating profits over years.
As part of the investigation, around 3,000 records were checked and nearly 225 witnesses inspected amid the trial that started almost six years back.
Satyam Computer Services Limited was an IT services company based in Hyderabad, India.
It offered a range of services, including software development, system maintenance and packaged software integration services.
In June 2009, the company unveiled its new brand identity Mahindra Satyam subsequent to its takeover by the Mahindra Group.
