B. Ramalinga Raju, the disgraced IT mogul behind India's largest-ever corporate fraud, will appear before the country's market regulator tomorrow amid doubts the company he founded has enough money to pay its 50,000 staff this month's wages.
The Securities and Exchange Board of India (Sebi) will ask just how the former chairman of Satyam, India's fourth-largest outsourcing company, was able to orchestrate a £1 billion fraud by wildly overstating the group's profitability, cash reserves and other assets for several years.
Mr Raju faces up to ten years in prison under Indian law if found guilty of misleading investors. The Indian Government has demanded that he is punished to the full extent possible for destroying confidence in the country's coprorate governance system.
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