Hyderabad, Sep 8 Satyam Computers founder B Ramalinga Raju, who suffered a massive heart attack on Monday, has been put under observation for next 48 hours in the Intensive Care Unit (ICU) of the Nizam's Institute of Medical Sciences (NIMS) hospital.

According to hospital sources, Raju has also been diagnosed with the Hepatitis C.

Doctors said, Raju's condition is stable and that he needed rest for a long period.

According to jail sources, Raju suffered a cardiac arrest at around 8 p.m, was initially attended by the jail doctors before being shifted to NIMS hospital.

Raju, who has been under judicial custody at the Chanchalguda jail for the past eight months in connection with Rs 8,000 crore corporate fraud, facing criminal charges including fraud, forgery, cheating, embezzlement and insider trading along with his brother and Satyam's former managing director Rama Raju and others.

Raju, will turn 55 on September 16.

Raju was Satyam's Chairman until January 7, 2009 when he resigned from the company's board after admitting to corporate fraud. The Andhra Pradesh Police arrested him on January 9.

Satyam was created by Raju and others and was until recently perceived to be among the top Indian IT companies. (ANI)