Byrraju Ramalinga Raju resigned as chairman of Satyam Computers, India’s fourth largest Information Technology company, after admitting to the Board of Directors that accounts were fudged to the tune of Rs. 7,106 crore over “several years.” His brother, B. Rama Raju, also resigned as Managing Director and Chief Executive Officer (CEO).

The former chairman of Satyam Computer Services, B. Ramalinga Raju, and his brother and former Managing Director, B. Rama Raju, surrendered to the police after his shocking confession that he had fudged accounts to the tune of over Rs. 7,100 crore on January 9, 2009.

The Andhra Bank, which has crossed the Rs 1-lakh crore business-mark, six months ahead of the target, aims to cross Rs 1.50-lakh crore business by September 2010. 

Tech Mahindra, the IT arm of auto major Mahindra and Mahindra, emerged as the highest bidder to acquire a controlling stake in the embattled Satyam Computer Services, the Hyderabad-based company on April 13.

A branch of Pharmaexcil (Pharma Export Council of India Ltd), an apex body for pharma exporters and an intellectual property right cell, started functioning at the Jawaharlal Nehru Pharma City in Visakhapatnam. The effort was part of the State Government's endeavour for the setting up of a world class cluster for pharma industry with all common amenities. The pharma city, developed in a Special Economic Zone by Ramky Group, began functioning.

Emergency Management and Research Institute (EMRI), which runs the ‘108’ emergency medical help ambulance service, was renamed GVK-EMRI as a consequence of exit of Ramalinga Raju's family and a change of EMRI management, with the GVK Group becoming an investor. G.V. Krishna Reddy took over as the Chairman, of the EMRI Governing Board.

Lanco Infratech Ltd (LITL), the infrastructure giant shifted its corporate headquarters to Gurgaon, Haryana. The tough business environment, economic slowdown and the collapse of the real estate market have also made the Hyderabad-based major take a re-look at its diversification plans and big dreams in the infratsructure sector. Hasn't the attack by TRS activists on its headquarters not a cause??

Hyderabad's Pharma bellewther Dr. Reddy's Labs has partenerd global pharma and healthcare major Glaxo SmithKline to develop and market select products across several emerging markets, excluding India, in the realms of diabetes, oncology, cardiovascular, gastoenterology and pain management. Ever since, Dr. Reddy's stocks began moving northwards from Rs. 396 on April 17 to Rs. 1,174.70 paise on December 29, a three-fold increase.

French drug maker Sanofi-Aventis picked up a controlling stake in unlisted Hyderabad-based vaccine maker Shantha Biotechnics, making it the first big-ticket deal in the Indian biotech sector.
Sanofi’s vaccine unit, Sanofi Pasteur, acquired a subsidiary of French bioindustrial group Merieux Alliance, ShanH, which owns a majority stake in Shantha Biotechnics. The transaction values the Indian company at 550 million euros or $783 million (Rs 3,770 crore).

The UPA Chairperson, Ms Sonia Gandhi, the then Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, dedicated the Krishnapatnam port built by Navayuga Infra near Nellore. 

The Government of Andhra Pradesh also cancelled the concessionaire agreement for the Rs 12,132-crore Hyderabad Metro Rail Project, a showpiece public-private partnership, awarded to Maytas Infra Ltd, the listed company run by Teja Raju, older son of Satyam Computer Services founder B Ramalinga Raju.
The Government of India appointed four directors to Maytas Infra in May with former Chairman of Airports Authority of India Mr. K Ramalingam as Chairman, past president of Assocham Mr. Anil K Agarwal, noted tax lawyer Mr. O P Vaish and past president of Institute of Chartered Accountants of India Mr. Ved Jain, on the board of Maytas Infra Ltd. following an order by the Company Law Board (CLB). Eventually Maytas Infra was taken over by major shareholder IL&FS in August.

Offering fast and unhindered access from the city centre to Aramgarh Junction for traffic heading to the Rajiv Gandhi International airport at Shamshabad, the P.V. Narasimha Rao Elevated Express way was completed at a contract value of Rs.439 crore. 

The Union Government and the Government of Andhra Pradesh signed a memorandum of agreement (MoA) for the establishment of Petroleum, Chemicals & Petrochemical Investment Region (PCPIR) in the State between Visakhapatnam and Kakinada. 
Terming this as the 'golden letter day' in the history of AP, Chief Minister K Rosaiah had said the PCPIR would be a big leap for the State on the industrial front. 
The region envisages a total investment of over Rs 300,000 crore in a period of 7-10 years.  It has been projected to generate employment to 1.2 million people including direct employment to 5,25,000 and indirect employment to 6,75,000. 

Part of the Sakshi group, Bharathi Cement Corp. Ltd commissioned the first phase of its 5 million tonne (mt) cement plant in Kadapa district of Andhra Pradesh, making the company the newest entrant into an expanding cement market.  

GMR Hyderabad International Airport Ltd. (GHIAL) and Airports Council International (ACI World), Geneva, signed an agreement to appoint GMR Aviation Academy as a Global Training Hub for the Asia Pacific region.  

Chief Minister K. Rosaiah inaugurated Aurobindo Pharma unit VII formulations at AP Industrial Infrastructure Corporation’s Special Economic Zone at Polepally in Mahboobnagar district. 

GVK Power and Infrastructure Ltd acquired 17 per cent stake in Bengaluru International Airport Ltd (BIAL) from L&T Infrastructure Development Projects Ltd for Rs 686 crore.
GVK paid Rs 105 a share for the L&T stake. With this, GVK's stake in BIAL went up to 29 per cent. The company had earlier acquired 12 per cent stake from Zurich Airport for Rs 484 crore through its subsidiary GVK Airport Developers. The L&T stake was acquired through the GVK subsidiary, Mumbai Airport Developers.  

The GMR Group with interests in several infrastructure businesses such as airports, energy and highways sold its ferro alloys business to the Dubai-based Cronimet Mercon Invest Ltd (CMIL) for Rs22.55 crore. The promoters of GMR signed a share purchase agreement with Cronimet to sell almost their entire holding in GMR Ferro Alloys and Industries Ltd (GFAIL). 
 

G.V.Krishna Reddy, G.M. Rao, K. Anji Reddy of Dr Reddy Labs, Divi Murali of Divi Labs, P.V. Ram Prasad Reddy of Aurobindo Pharma, L. Madhusudhana Rao of Lanco Group, Pratap C. Reddy of Apollo Hospitals entered the Forbes 100 list of India  

The Andhra Pradesh Gas Infrastructure Corporation (APGIC) consortium bagged four out of five blocks at KG Basin in the bidding process. 
Commencement of natural gas production in KG basin and crude oil production in Rajasthan were amongst the major milestones achieved during the year, Union Ministry of Petroleum and Natural Gas said in its annual review. 
The world’s largest gas discovery of 2002 (KG D-6) was put on production from April 1, 2009 which nearly doubled the supply of much-needed natural gas for Indian industries.

Tourism Minister of Karnataka and owner of Obulapuram Mining Company (OMC) G Janardhan Reddy said that his Rs 20,000-crore ambitious project ‘Brahmani Steels’ would be launched in October 2010.

Films Magadheera, Arundhati were the biggest grossers in the Telugu film industry among a slew of flops.