Raju’s lawyer to appear before Sebi team

Raju’s lawyer to appear before Sebi team
PTI
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First Published: Fri, Jan 09 2009. 05 00 PM IST
Updated: Fri, Jan 09 2009. 05 00 PM IST
Hyderabad: The Securities and Exchange Board of India (Sebi) team today summoned Ramalinga Raju to appear before it, but the lawyer of Satyam Computer’s founder said instead he would depose before the panel.
The team first went to Raju’s house for an inspection, but returned on finding it locked. It had earlier issued summons for him to appear before the team.
Raju’s lawyer S Bharat Kumar said that he would appear before the Sebi team, which arrived here from Mumbai yesterday to probe the about Rs 7,800 crore financial fraud disclosed by Raju on Wednesday.
Although Satyam’s interim management has declined knowledge of where the company founder is now, the lawyer claimed yesterday that Raju was very much in Hyderabad. There are also speculations that Raju might be at a guest house on the outskirts of the city.
“Should there a need arise, Raju will make himself available for probe or any legal process by the agencies of the Government,” Kumar had said in a statement.
The Sebi team visited Satyam office yesterday in connection with the probe ordered by the market regulator.
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First Published: Fri, Jan 09 2009. 05 00 PM IST