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Raju's (Satyam) empire extends to 40 companies

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The Ramalinga Raju empire is much wider than what it was originally thought to be. TOI investigations now show that the Raju family had spawned more than 40 companies in the last 15 years. A majority of these companies — spread across 10 states — sprang up in the last four years and most of them were engaged in agriculture and other allied activities. These were companies that acquired land, part of which were sold to Maytas Property. The companies were also investing in Maytas Infra through a complex web, the trail of which is difficult to establish," a highly placed source told TOI. On paper, Maytas Property owns 6500 acres of land and Raju made an abortive bid last month to make Satyam take over this company for $1.3 billion. He offered only $0.3 million for Maytas Infra. #doc
Vinod Jain

on 17 January 2009

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