Andhra Pradesh government allows CBI to attach properties of Satyam Computers founder B Ramalinga Raju

HYDERABAD: The Central Bureau of Investigation will soon attach properties of Satyam Computers founder B Ramalinga Raju in connection with the Rs 7,000 crore scam perpetrated by the former promoter and his associates. The apex investigation agency was given the green signal to attach properties by the government this afternoon.

About 44 properties bought in four districts of Andhra Pradesh- East and West Godavari, Hyderabad and Rangareddy district will be attached by the CBI. The property is said to be worth Rs 2.48 crore in the name of seven front companies that were floated by Raju's family members. Earlier, the government had approved attachment of properties worth Rs 3.87 Crores belonging to these persons.

Last year, the Enforcement Directorate (ED) had also attached properties belonging to Raju and his family. The ED stepped into the case after it found sufficient evidence against the promoter for violation of the Foreign Exchange Violation Act (FEMA) and Prevention of Money Laundering Act. Most properties were registered in the name of Ramalinga Raju, his brothers Rama Raju and Suryanarayana Raju; sons Teja and Rama Raju (jr), wife Nandini Raju and SRSR Holdings, the firm floated by Raju's family.