Supreme Court permits SEBI to interrogate Ramalinga Raju
February 3rd, 2009 - 4:11 pm ICT by ANI
New Delhi, Feb 3 (ANI): The Supreme Court on Tuesday permitted the Securities and Exchange Board of India (SEBI) to grill Ramalinga Raju, former chief of embattled Satyam Computer Services Limited and his brother, Rama Raju.
Both will be interrogated by SEBI’’s investigator, Sunil Kumar at the Hyderabad jail over the next three days.
On Monday, Goolam E. Vahanvati, Solicitor General and also Counsel for SEBI, submitted the request before a Bench headed by Chief Justice K G Balakrishnan. On January 31, a judge of a trial court in Hyderabad had adjourned to February 9, the hearing of petition of the SEBI to interrogate Ramalinga Raju. The court said it would not pass an order without hearing from Raju and his brother. On January 7, 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)
- SEBI moves Supreme Court to grill former Satyam chief Raju - Feb 02, 2009
- Supreme Court to hear SEBI''s plea - Feb 03, 2009
- Court adjourns market regulator''s plea to quiz former Satyam chief - Jan 31, 2009
- SEBI begins interrogating Ramalinga Raju - Feb 04, 2009
- SEBI to interrogate Satyam Rajus again - Feb 09, 2009
- 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
- CBI plea against Ramalinga Raju's bail to be heard Monday - Aug 29, 2010
- SEBI team reaches jail to question Rajus - Feb 04, 2009
- Satyam's Ramalinga Raju, two others get bail - Nov 04, 2011
- SEBI allowed to quiz Satyam's Raju brothers (Second Lead) - Feb 03, 2009
- Satyam Ramalinga Raju released on bail - Nov 05, 2011
- Court reserves verdict on Raju's bail plea - Aug 16, 2010
- Satyam case: no bail for Raju, seven others - Aug 30, 2011
- Regulator's wait to question Rajus continues (Lead) - Jan 30, 2009
Tags: bench, chief justice, corporate fraud, corporate governance, crores, exchange board, k g balakrishnan, manipulation, New Delhi, professional integrity, rama, relevant services, rest of the world, rupees, satyam computer services, scandal, securities and exchange, securities and exchange board of india, solicitor general, trial court
