The CID sleuths have found that Maytas Properties and Maytas Hill County Private Limited, owned by the family members of the arrested former Satyam chief Mr. B. Ramalinga Raju, had illegally diverted funds to the tune of Rs.1086 Cr of the Hill Country project at Bachupally to several subsidiary companies owned by them. The investigating officials are now in the process of colleting evidence against Ramalinga Raju’s son, B. Rama Raju for the fraud.
The investigating officials speeded up the probe after Mr S.V. Ramana Murthy took over as the ADG.
Out of total diverted funds of Rs.1086 Cr, Rs. 580 Cr was paid by Hill County buyers and the remaining amount collected as loans from banks.
