NEW DELHI (AFP) — Satyam founder B. Ramalinga Raju created a 300-strong network of companies to divert funds from the fraud-hit Indian outsourcing giant, an government minister said Wednesday.

The corporate affairs minister’s comment came as a court in the southern city of Hyderbad threw out bail applications by Raju, his brother and former managing director Rama Raju and former chief financial officer Vadlamani Srinivas.

“It was a very complex process he (B. Ramalinga Raju) had adopted,” Corporate Affairs Minister Prem Chanda Gupta told Indian television network CNN-IBN in an interview.

“Our information is that there was a network of almost 300 companies and funds were diverted from one company to (another) and then to (a) third.”

He said the government believes other people were involved in India’s biggest fraud, which has been a bombshell for corporate India.

“But if you go into the systematic inspection and investigation of the structure of the company, you come to the conclusion that the whole thing (revolves) around the Raju family,” Gupta said.

B. Ramalinga Raju was arrested earlier this month, days after declaring he had falsified a bank balance of over one billion dollars for India’s fourth-largest software services exporter and inflated its profits.

Meanwhile, Satyam shares jumped 17.6 percent or 8.3 rupees to 55.45 rupees Wednesday after the company said it had named investment bankers Goldman Sachs and Avendus Capital to identify strategic investors and a potential buyer.

Satyam’s shares have risen nearly 100 percent in the past week from 27.75 rupees as bid talk has swirled and new government-appointed board members have sounded positive about funding plans to secure the company’s future.

Talk of a bid has mainly focused on Larsen and Toubro Ltd., India’s biggest engineering company, which last week tripled its stake in Satyam to 12 percent, and has said it may raise its holding to 15 percent.

Such a move under Indian law would oblige the company to make an open offer for a further 20 percent of Hyderabad-based Satyam.

The acquisition of Satyam could vault Larsen and Toubro, which runs a fledgling software business through its subsidiary L and T Infotech, into the big leagues of the flagship Indian IT industry.

Satyam operates in nearly 70 countries and has a blue-chip client list that includes 185 Fortune 500 companies.

In the immediate aftermath of the scandal, Satyam shares lost close to 90 percent of their value.

Meanwhile, the government is seeking to make all former top executives, board members and auditors of Satyam potentially “answerable” for failing in the “proper discharge of their fiduciary duties” and stop them leaving the country, the Press Trust of India reported.

“Affairs of the company were carried on with intent to defraud” by company bosses as well as with “an attempt to enrich themselves unjustifiably,” the government said in a petition to the Company Law Board.

The petition was submitted last week but only made public Wednesday, the news agency said.

The board is a quasi-judicial body with powers to rule on complaints involving companies.

Some former top officials were “either fleeing the country or beyond reach in order to evade or stall the investigation,” the government added.

The government has named a six-member board containing some of India’s most respected business figures to sort out Satyam’s affairs.

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Chiranjeevi’s party name is ’praja rajyam’ ’prema lakshyam’ ’seva markam’

Chiranjeevi (Telugu: చిరంజీవి), born as Konidela Siva Shankara Vara Prasad[1] on August 22, 1955, also known as Mega Star is a three-time Nandi Award and seven-time Best Actor(Filmfare-Telugu)award -winning actor in the Telugu cinema industry. He is also a recipient of the Padma Bhushan Award.

Vara Prasad is the eldest son of Late Sri Venkat Rao and Smt Anjana Devi. He was born on 22 August 1955 in Narsapur,a Town on the Banks of River Godavari in the West Godavari District in Andhra Pradesh. He spent his childhood in his native village with his grand parents, while his family was else where because of his father’s occupation.[2] He has two sisters and two brothers; his younger brother, Nagendra Babu is a film producer and a film actor, his youngest brother, Pawan Kalyan is also a Telugu film actor. Varaprasad did his schooling in Nidadavolu, Gurajala, Ponnuru, Mangalagiri and Mogalturu. He won many prizes for his acting skills in school, especially for the performance as Parandamayya Panthulu. After high school he joined Bi.P.C in C.S.R.Sharma Jr. College at Ongole. Following that he finished his BCOM from Y.N. College in Narasapur.[3] He is an NCC cadet.Chiranjeevi had participated in the Republic Day Parade in New Delhi as an NCC cadet in the early 70s. [4] After his graduation at Y.N. College in Narsapuram, Chiranjeevi moved to Chennai to seek a career in acting. This was in 1977.

Career

Chiranjeevi was called by different names at different stages in his life. At high school level, he was called KSSV Prasad. During his college days, he was called Prasad. At home, he was called ‘Shankara Babu’.

Varaprasad felt that his name ‘Sankar’ would not be appealing to the people. He had a dream one night in which lord hanuman called him as Chiranjeevi. Then he narrated the same incident to his mother and she advised him to change his screen name to Chiranjeevi. He is also a great devotee of Lord Hanuman and hence he changed his name to Chiranjeevi which in Hindu mythology refers to Lord Hanuman

Early career

After completing his Diploma in Acting in Chennai, Chiranjeevi got an offer to act in ‘Punadi Rallu’in 1978, But the movie got delayed. Producer-director T Kranti Kumar, who had seen his photograph gave him a role in the film, ‘Pranam Khareedu’ which was his first release.. Subsequently, director Bapu signed him for ‘Manavoori Pandavulu’, where he first gained some recognition. In the beginning of his career, Chiranjeevi donned villain roles in films like Kukka Kaatuki Cheppu Debba, Kotthapeta Rowdi etc. He was known for his speedy dance movements and risky hair raising fights. His success started after his quite acclaimed role in ’Initilo Ramayya Vidhilo Krishnayya’ (1981). Between 1978 and 1983 October (till the release of Khaidi) he had acted in about 60 movies, mostly in secondary roles, some as second hero, some as villain and some as character roles.[6]

Khaidi, directed by A Kodandarami Reddy and produced by Thirupathi Reddy of Samyuktha movies, was the first film to catapult Chiranjeevi into the big league. The movie was heavily inspired by Hollywood blockbuster First Blood.[7] He sizzled across a two and a half hour drama which in the end changed the very face of heroism in the Telugu motion picture industry. This film marked the beginning of his long and successful collaboration with director Kodanda Rami Reddy. Even today,Chiranjeevi singles out this film in his entire career that, according to him, satisfied him in everyway.[8]
The film Pasivadi Pranam, released in 1987, gave Chiranjeevi super stardom. He introduced “break dance”, a new style of dance form to the telugu film audiences. This movie was his first silver jubilee hit film.In the same year he acted in SwayamKrushi in the direction of K. Viswanath and won Nandi Award for his performance.[9] Even though over eager critics were keen to typecast him as a song and dance hero, his films were sufficiently ambiguous to defy easy ideological categorization.
Chiranjeevi, has stated, “I play characters of ordinary men in extraordinary circumstances. I like characters who have a perspective for right and wrong.” He has also noted “my movies are entertainment oriented, not moral or political.[10]” From then onwards chiranjeevi was called “Supreme Hero” by his fans.
This was a glorius period in his career with movies like Adavi Donga, Donga Mogudu, Yamudiki Mogudu, Aaradhana, Rudraveena, Challenge, Vijetha, and Kondaveeti Donga all of which went on to become blockbusters in the telugu film industry.

Further progress

The title “Megastar” was used for the first time while publicizing K. S. Rama Rao’s movie Marana Mrudangam which released in August 1988. In the same year was released Rudraveena directed by K.Balachander, which bagged the “Nargis Dutt” award for Chiranjeevi in the national arena.[11] The title was just a publicity gimmick and did not catch on with his fans at that time. But the title was used consistently from then onwards.

The first half of 90’s decade peaked Chiranjeevi’s career graph to soaring heights for every movie released becoming huge box office hits like Gang Leader, Rowdy Alludu, Jagadeka Veerudu Athiloka Sundari and Gharana Mogudu to name a few. After the success of so many movies his fans lapped up the title of Megastar which is used even to this day.

Due to the phenomenal success of his movies in the early 90’s, expectations about his movies box-office runs were very high. Coupled with the high expectation were some poor movie selection by chiranjeevi which led to very bad movies like Mechanic Alludu, SP Parasuram, Big Boss and Rickshavodu which proved to be commercially disastrous.[12] The controversy raked by Alluda Majaka for some double entendre and few erotic scenes affected Chiranjeevi’s image among his fans.[13] Chiranjeevi threw a self-declared ’gap’ after Rickshavodu to have a self-scanning of his conscience and thus emerged out with more mature and versatile portrayal in the film Hitler that ended his lean patch.

Indra released in 2002 in more than 200 theatres in Andhra Pradesh. The movie opened to packed theatres and went on to become one of the biggest hits of chiranjeevi’s career. It truly reinvented the star in him and rejuvenated all his fan clubs all over the state. He also won the Nandi Award for best actor that year for the film.

Personal life

Chiranjeevi tied the wedding knot to Surekha, daughter of eminent yesteryear comedian Allu Rama Lingaiah, on February 20, 1980. He has 3 children, Eldest daughter Sushmita, Son Ram Charan Teja & youngest daughter Srija.

Political Life

Chiranjeevi’s foray into politics was highly anticipated in the media and political circles since 2007.[14][15] While it was reported that he was seeking opinion of people during the latter half of 2007, the media also suggested that he would announce the decision in January 2008.[14] Amongst media speculations, he would launch his political party as an alternative to the ruling Indian National Congress and Telugu Desam Party in his native state of Andhra Pradesh.[16] Even before the party’s launch, several political leaders from the Andhra Pradesh such as Harirama Jogaiah from Congress and K. Vidyadhar Rao and B. Nagi Reddy from the Telugu Desam Party.[16]

Chiranjeevi inaugurated his party office in Jubilee Hills on August 10, 2008. The actor came with his family members and a special poojas were performed. Speaking to the media after the inauguration, Chiranjeevi said, “I would like to extend my condolences to the bereaved families who lost their lives in the incessant rains occurred in the past 3 three days”. He also added: “ I request all my fans to extend help to the people who are in need. I would be announcing my party and agenda and officially launch the party this month. I will be answering all the questions posed by the media on the day of my party announcement.”

On Aug 17, 2008 at 2:30pm Chiranjeevi has addressed a press conference in his party office to announce his entry into politics.

Chiranjeevi has announced that a Public meeting will be conducted in Tirupati on Aug 26, 2008, which falls on Mother Theresa’s birthday. He has told that the details of his new party and future plan will be declared in Tirupati meeting.

Awards and Honours

In January 2006, Chiranjeevi received the Padma Bhushan, the third highest civilian award in India because of his contributions to the Telugu Film Industry and for his social work. It was presented to him by the President of India.[17]

In August 2007, Chiranjeevi received South Filmfare Special Legend Award presented by Amitabh Bachchan.

Telugu superstar Chiranjeevi formally launched his political party in the holy shrine of Tirupati amidst huge fanfare and extravaganza. He called his party ‘Praja Rajyam’.

Lakhs and lakhs of his fans waited for their screen idol to ‘descend’ on the venue and in the prelude to his arrival a cultural programme was arranged to keep the huge crowd in good humour.

Chiranjeevi told his fans that he was ‘overwhelmed’ by the support and told the people that he knows what Andhra wants. He called it his ‘duty to serve the people of Andhra Pradesh’.