Ramalinga Raju reported ‘stable’ in hospital

Satyam Computer Services Ltd founder B Ramalinga Raju, charged in India's biggest fraud early this year, is reported to be in a stable condition. Last evening evening, he was rushed to the government-run Nizam's Institute of Medical Sciences from Chanchalguda Jail in Hyderabad after complaining of chest pains.

Raju, who was jail along with seven other accused in connection with the Rs7,800-crore accounting fraud in Satyam – the biggest corporate scam in India's history - was given first aid by the jail authorities before he was shifted to NIMS.

Resident medical officer of NIMS M Srinivas told reporters that the cause of the pain would be known after the reports of various tests were fully evaluated later today. Raju's lawyer Bharat Kumar said that Raju has a block in his artery, which has not been removed as he is also suffering from Hepatitis C.

Raju, who will turn 55 on 15 September, has been in jail since 9 January. Two days earlier he had shocked the corporate world by admitting to a huge accounting fraud in what was then India's fourth-largest software exporter, triggering probes by the Serious Fraud Office, Central Bureau of Investigation, local police, and the Securities and Exchange Board of India.

Raju's brother B Rama Raju, chief financial officer Vadlamani Srinivas, three other employees of Satyam and two auditors are also in jail. They have been charged with cheating, forgery and criminal conspiracy.

If convicted, Raju could face a life sentence.