Satyam chief resigns, admits fraud in accounts
Updated on Jan 07, 2009 10:26 pm IST
In a major development on Wednesday, Chairman of Satyam Computer Services, Ramalinga Raju resigned from the Board after admitting discrepancies in the company's balance sheet as on September 30, 2008. The company informed the stock exchanges and market regulator Securities and Exchange Board of India that B Rama Raju, the managing director of Satyam has also resigned from his position. Raju has suggested Ram Maynampati as the interim CEO of the company.
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