Court adjourns market regulator’’s plea to quiz former Satyam chief
January 31st, 2009 - 1:29 pm ICT by ANI
Hyederabad, Jan 31 (ANI): A judge of a trial court in Hyderabad has adjourned to February 9, the hearing of petition of the Securities and Exchange Board of India (SEBI) to grill Ramalinga Raju, the founder of Satyam Computer Services.
The court said it would not pass an order without hearing from Raju and his brother B Rama Raju. “As far as permission to interrogate in concerned, I pressed for an interim order but the court said it would not like to pass such an order without hearing them. So he said that aspect will also be considered on February 9,” said Goolam E. Vahanvati, Solicitor General and also counsel for SEBI.
On January 7, B Ramalinga Raju confessed to fraudulent manipulation to the tune of rupees 7,136 crores over several years by inflating the company’’s profits and assets.
Although the Satyam scandal, India’’s biggest corporate fraud, has shattered global confidence in India’’s corporate governance, the other IT companies have assured the rest of the world that all relevant services are professionally and ethically in order and as such there should be no room for any doubt about the professional integrity of Indian companies. (ANI)
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- Satyam officials issued notices as CBI drags case - Sep 19, 2011
- Supreme Court allows SEBI to quiz Satyam's Raju brothers (Third Lead) - Feb 03, 2009
- Market regulator grills Raju brothers in jail (Lead) - Feb 04, 2009
- Satyam case: Supreme Court grants bail to five - Oct 13, 2011
- Apex court grants bail to Satyam scam auditor - Feb 04, 2010
- Court reserves verdict on Raju's bail plea - Aug 16, 2010
- IT department freezes accounts of Mahindra Satyam - Mar 22, 2011
- Satyam's Ramalinga Raju, two others get bail - Nov 04, 2011
Tags: b ramalinga raju, corporate fraud, corporate governance, crores, exchange board, hyderabad, manipulation, market regulator, plea, professional integrity, rama, relevant services, rest of the world, rupees, satyam computer services, sebi, securities and exchange, securities and exchange board of india, solicitor general, trial court
