India Investing
A wikizine where people interested in India's investment opportunities post articles.
Jailed boss of Satyam hospitalised: officials
The jailed founder and chairman of India's fraud-hit IT giant Satyam underwent emergency treatment in hospital on Tuesday after suffering a suspected heart attack, medical officials said.
B. Ramalinga Raju was rushed into intensive care "complaining of chest pains and needs further evaluation," but was currently in a stable condition, said N. Satyanarayana, superintendent of the hospital in Hyderabad.
Raju, 54, has been in jail for eight months since admitting that Satyam -- a celebrated symbol of India's international outsourcing expertise -- had falsified its assets by one billion dollars and inflated profits for years.
In April, Tech Mahindra paid 600 million dollars for a majority share in the company, rescuing it from collapse.
Satyam, ranked as India's fourth-largest outsourcer by revenues when the scandal broke, has acted as a back office for some of the world's biggest companies including Nestle, General Electric and General Motors.
Raju was jailed along with his brother and Satyam's former managing director pending trial on charges relating to the fraud.
He was first treated by jail medics on Monday evening before being taken to the hospital.
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