Ramalinga Raju resigns as Satyam chairman

Bangalore: Ramalinga Raju has resigned from the Satyam board, reports CNBC-TV18.

Raju wrote a letter to the board giving balance sheet details.

Satyam said that the balance sheet has an inflated cash and bank balance of Rs 5040 crore. Satyam added that no board member had any knowledge of the real situation as against the books.

Accrued interest of Rs 376 crore in books is non-existent.

Satayam further said that Rs 1230 crore was arranged to Satyam but was not reflected in the books.