New Sebi order in Satyam scam case

New Delhi, Nov. 2: Passing a fresh order in the nearly a decadeold Satyam scam, Sebi on Friday barred B. Ramalinga Raju and three other entities from the securities markets for 14 years and directed them to return `813 crore worth unlawful gains with interest.

The 14-year ban imposed by Sebi would include the debarment period already served by them. Besides, Sebi has reduced the disgorgement amount to `813.40 crore from `1,258.88 crore along with interest, as per the order.

Besides Raju, founder of erstwhile Satyam Computer, the watchdog has passed the order against his brother B. Rama Raju, B. Suryanarayana Raju and SRSR Holdings Pvt Ltd.

The latest Sebi ruling, pertaining to insider trading and fraudulent activities, has been passed after the Securities Appellate Tribunal (SAT) directed it to pass a fresh order.

The debarment already undergone by Ramalinga Raju and Rama Raju since July 15, 2014 as well as Suryanarayana Raju and SRSR Holdings Pvt Ltd since September 10, 2015 would be taken into account for calculating the total 14-year ban period, according to the fresh order.

These entities have been barred for violating regulations pertaining to PFTUP (Prohibition of Fraudulent and Unfair Trade Practices) and PIT (Prohibition of Insider Trading).