Corporate India has not shown the kind of 'white collar crime' that Ramalinga Raju of Satyam Computers appears to have committed since the 1960s. It was in late 1950s that a smooth talking gentleman from Andhra Pradesh called Jayanti Dharma Teja, better known as Dr Teja, turned up in Delhi to charm the then Prime Minister Pundit Jawaharlal Nehru with his talk about establishing a 'National Shipping Empire'. Government of India's backing became available to Dr. Teja in generous measure. With that backing came easy availability of loans from financial institutions and banks. Dr. Teja used this easy money to buy second, third or fifth hand tubs from wherever, with which to establish his 'shipping empire' called Jayanti Shipping Company. All the ships of the company were called '(Something) Jayanti'. For a few years Dr. Teja became a celebrity entrepreneur. Then came his fall which was a little slower than his rise. By 1965, his company was caught in a web of unpaid bills and unpaid bank loans, personally accused of all manner of financial skullduggery he became a fugitive from Indian law, taking shelter in Costa Rica. Dr Byrraju Ramalinga Raju co-founder and Chairman of Satyam Computers is as compelling a personality as Dr Dharma Teja was in his time. Unfortunately both of them misused their talents
In pursuance of the said warrants, extradition proceedings were commenced against the petitioner and his wife in the United States where they were arrested and produced before the U. S. Commissioner and released on bail in the amount of 25,000 dollars which was later reduced to 10000 dollars each-During the pendency of the extradition, proceedings the petitioner and his wife jumped bail and did not appear before the court and eventually the bail bonds were forfeited and the extradition proceedings concluded and the extradition of the petitioner and his wife was ordered to be effected. It appears that in September, 1967 the petitioner absconded to Costa Rica on safe conduct pass obtained through mutual friends and settled down there. Extradition proceedings against him instituted in that State failed. He stated to that State that he had renounced Indian citizenship with effect from 26th of April, 1970 and applied for the grant of permanent residence and citizenship of Costa Rica. His wife and children are still living there while the petitioner On obtaining a diplomatic passport began his travels in June, 1970.
(3) During the pendency of extradition proceedings he jumped bail which was in the sum of 10.000 dollars and absconded to Costa Rica without a valid passport, taut only on safe conduct pass arranged by mutual friends, as admitted by the petitioner in his statement in London Court,
(4) In Costa Rica, the extradition proceedings of the Government of India failed and that country granted protection to the petitioner against extradition.
(5) The petitioner applied for permanent residence (and citizenship) of Costa Rica which was apparently granted as a diplomatic passport was issued to the petitioner. As admitted by the petitioner in his statement before the Magistrate in London he had renounced Indian Citizenship with effect from 26th of April. 1970 which the petitioner has in his statement made in the court before me tried to explain as having been done under stress of circumstances mentioned in his statement.
(6) The present living wife and two children of the petitioner are living in Costa Rica and the wife who is also an accused in this case has not followed her husband to this country.
(7) In London, the petitioner was found traveling on a diplomatic passport which indicated his name and the name of his mother but omitted the word 'Teja' by which he was popularly known and he is reported to have told the Constable who arrested him at the Airport that he was working for the President of Costa Rica and that he did not want to be arrested and he would do anything in his power to ensure that he did not get back to India,
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