Satyam Chairman Ramalinga Raju discharged from hospital

Hyderabad, Oct 4, 2010 (Calcutta Tube) B. Ramalinga Raju, disgraced founder and former chairman of Satyam Computer Services Ltd, was Saturday discharged from a government-run hospital here.

Raju, the prime accused in the multi-crore Satyam fraud case who was granted bail by Andhra Pradesh High Court Aug 18, was discharged from Nizam’s Institute of Medical Sciences (NIMS).

NIMS doctors confirmed that Raju was discharged on his request but said his condition had improved. They advised him to visit the hospital once in 15 days for regular check-ups and treatment.

It is after 20 months that the former IT czar, who fell from grace after admitting India’s biggest ever accounting fraud in January last year, returned home.

Raju, who underwent treatment at the hospital for Hepatitis C for 10 months, cleared the hospital bill of about Rs.8 lakh.

Raju was shifted from Chanchalguda Central Jail to NIMS late last year and remained in the hospital under judicial custody till Aug 18, when the court granted him bail.

Even after getting bail Raju had remained in the hospital for treatment and has been attending the trial as per the bail condition. Ever since he was admitted to NIMS, Raju has been avoiding the court, delaying the commencement of the trial.

The 56-year-old Raju has been in jail since January last year when he admitted to a Rs.7,800-crore accounting fraud in Satyam Computer Services Ltd, which he had founded.

While resigning as chairman of the firm, he confessed on Jan 7 that the company cooked up its books, resulting in an ‘inflated (non-existent) cash and bank balances’ over several years.

Two days later he surrendered before the police and was lodged in Chanchalguda central jail here.

The CBI, however, told the court in November last year that the scam is of over Rs.14,000 crore and during the hearing on his bail petition in the High Court, the prosecution said the investors suffered a loss of Rs.24,000 crore.

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