News & Media 12th Aug 2024
Fifteen years after Byrraju Ramalinga Raju confessed to a $1.5 billion accounting fraud at Satyam Computer Services Ltd, a family business he “mentored” into existence is in trouble over unpaid salaries, mass layoffs, and delayed tax dues.
Brane Enterprises Pvt. Ltd, which lists the disgraced entrepreneur’s younger son Byrraju Rama Raju as a significant beneficial owner, recently laid off more than 1,500 employees and has delayed paying salaries for the last three months.
Against this backdrop, Manendra Singh has been quoted in an article, “Satyam hangover: The chaos inside a tech firm with family link to Ramalinga Raju” written by Samiksha Goel from Livemint.
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