Raju to face Sebi team on Saturday

Raju to face Sebi team on Saturday
PTI
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First Published: Fri, Jan 09 2009. 09 57 PM IST
Updated: Fri, Jan 09 2009. 09 57 PM IST
Hyderabad: Former chairman of Satyam Computer B Ramalinga Raju will appear before a Sebi probe team on Saturday to answer questions on the sale and purchase of Satyam shares during 2004 and 2009, his counsel Bharat Kumar told reporters on Friday.
Kumar appeared before the team of the market regulator at the Satyam office at Madhapur in Hyderabad, as Raju did not turn up, citing ill-health.
He (Raju) will appear before the authority tomorrow at 4pm, as summoned by Sebi, he said.
Earlier, Raju was summoned by Sebi officials to appear before it by 4pm on Friday.
Raju had sought three days’ time to submit the documents sought by Sebi officials, which was denied, Kumar said.
The Sebi team is camping Hyderabad to probe the Rs7,800 crore accounting scam in Satyam. They are being assisted by officials of the RoC, Hyderabad.
Sebi summoned Raju to appear before the authority under sections 11 (3) and 11 (C ) of (Sebi) Act 15 of 1992.
Meanwhile, the Andhra Pradesh Police have launched investigations into the Satyam scandal. State DGP SSP Yadav is personally supervising the probe, official sources said.
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First Published: Fri, Jan 09 2009. 09 57 PM IST
More Topics: Satyam | Sebi | B Ramalinga Raju | India | Satyam Scam |