Satyam Computer Services Ltd founder B Ramalinga Raju, accused of India’s biggest corporate fraud, will be tried in a one-time court within a year to circumvent a legal system with a backlog of 30.8 million cases.
“We are waiting for the notification of the fast-track court and then we are in business,” Corporate Affairs Minister Salman Khurshid said in an interview in New Delhi. “We don’t have to give in to the traditional lethargy we suffer in the legal system. This we will be able to showcase in the Satyam trial as well and that will make quite a difference.”
S Bharat Kumar, Raju’s lawyer, said he hadn’t been informed about the fast-track hearing.
The government will try to show Satyam funds have been diverted and trace any real estate purchases and cash, Khurshid said. If wrongdoing was found, the funds could help pay for liabilities arising from a US class-action suit, he said.
