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ED asks Gland Pharma to transfer shares held by Raju to escrow account
TIWN
TIWN
PHOTO : TIWN
Hyderabad, Nov 6 (TIWN) Gland Pharma will transfer six million shares owned by companies promoted by Satyam Computers' B. Ramalinga Raju and his kin to an escrow account on the direction of the Enforcement Directorate (ED), a top company official said on Wednesday.
After the Satyam multi-crore scandal broke out in 2009 and subsequentdevelopments, the ED which filed cases against Raju and others had attached the shares and directed Gland Pharma not to transfer, dispose, remove, part with or otherwise deal with them in any manner until further instruction from it.
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