Court rejects SEBI plea to question Satyam’s Rajus (Lead)January 23rd, 2009 - 8:56 pm ICT by IANS
Hyderabad, Jan 23 (IANS) Market regulator Securities and Exchange Board of India’s (SEBI) plea to record statements of disgraced Satyam Computer Services founder B. Ramalinga Raju and his brother B. Rama Raju was rejected by a court here Friday.Sixth additional chief metropolitan magistrate D. Ramakrishna pronounced his orders, rejecting the SEBI petition.
The grounds on which the plea was rejected were not known as the copy of the order was not yet available. Rajus’ lawyer S. Bharat Kumar, however, told reporters that the court upheld their arguments.
“The court upheld our contention that the petition itself is not maintainable and that the court has no jurisdiction to pass or entertain such petition and pass orders as prayed by the SEBI,” he said.
The magistrate Jan 16 heard the arguments of both sides and reserved the orders.
During the arguments, Ramalinga Raju’s counsel stated that no purpose would be served by his appearing before the SEBI as all the documents were already seized from Satyam’s offices and that his client had no access to the records to answer the SEBI’s questions.
The SEBI served summons on Ramalinga Raju Jan 9 and his lawyer announced that he would appear the next day. However, a few hours later, Ramalinga Raju surrendered before the Crime Investigation Department (CID), denying the SEBI an opportunity to question him.
- Rajus sent back to jail, SEBI plea dismissed (Roundup) - Jan 23, 2009
- Raju, others denied bail in Satyam scam - Aug 04, 2011
- Andhra High Court dismisses Raju's revision petition (Lead) - Jan 19, 2009
- 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
- Regulator's wait to question Rajus continues (Lead) - Jan 30, 2009
- Raju brothers remain in jail, bail plea to be heard Monday (Second Lead) - Jan 16, 2009
- Decision on regulator's plea to grill Raju Thursday - Jan 21, 2009
- CID seeks three-day extension of Raju's custody (Lead) - Jan 21, 2009
- SEBI team reaches jail to question Rajus - Feb 04, 2009
- Ramalinga Raju, brother to be produced in court - Jan 10, 2009
- Satyam case: no bail for Raju, seven others - Aug 30, 2011
- Hearing on Raju's bail petition adjourned to Thursday - Jan 19, 2009
- Court reserves orders on SEBI plea - Feb 17, 2009
- Satyam officials issued notices as CBI drags case - Sep 19, 2011
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