Ramalinga Raju stable in intensive care unit

8 Sep 2009,

HYDERABAD: Disgraced founder of Satyam Computer Services Ltd B Ramalinga Raju remained in the intensive care unit of a government-run hospital Tuesday after he suffered a cardiac arrest in a jail here. His condition is said to be stable.

Raju, who was in Chanchalguda Jail along with seven other accused in connection with the Rs.78 billion ($1.43 billion) accounting fraud in Satyam, was given first aid by the jail authorities after he complained of chest pain Monday evening. He was then shifted to the Nizam's Institute of Medical Sciences (NIMS).

Doctors conducted various tests on him and some of the reports are expected later Tuesday, hospital officials said.

Resident Medical Officer of NIMS M Srinivas told reporters that the cause of the pain would be known after the reports of all the tests were fully evaluated.

Srinivas said the former Satyam boss was undergoing treatment in the intensive care unit and his condition was stable.

Raju's lawyer Bharat Kumar, however, claimed that Raju suffered a heart attack. According to him, Raju has a block in his arteries but the same could not be removed as he is also suffering from Hepatitis C.

Raju, who will turn 55 Sep 15, has been lodged in jail since Jan 9, two days after he shocked the corporate world by admitting to a Rs 78 billion accounting fraud in the IT major.

Raju's brother B Rama Raju, chief financial officer Vadlamani Srinivas, three other employees of Satyam and two auditors are also in jail.

They have been charged with cheating, forgery and criminal conspiracy and are being tried for the same.

Following Rajus's confession, the government appointed a board to run Satyam, one of India's leading IT companies. The company was bought by Tech Mahindra in April and renamed Mahindra Satyam.