Police get custody of Satyam’s Raju brothers, CFO

January 17th, 2009 - 6:20 pm ICT by IANS  

Ramalinga RajuHyderabad, Jan 17 (IANS) A city court Saturday granted police custody of fraud-hit Satyam’s Raju bothers and senior company official Vadlamani Srinivas for four days from Sunday.Satyam Computer Services founder B. Ramalinga Raju resigned as Satyam chairman Jan 7 after admitting to the country’s biggest financial fraud of Rs.70 billion (Rs.7,000 crores/$1.43 billion). He and his brother were arrested Jan 9 and were originally in judicial custody till Jan 23.

The Raju brothers moved the court for bail Jan 12. Chief Financial Officer Srinivas was arrested Jan 10. All three are lodged in Chanchalaguda jail here.

India’s market watchdog Securities and Exchanges Board of India (SEBI) also wants to grill Raju, but its petition to do that will come up in court only on Monday, the same day as the bail pleas of all three arrested men are scheduled to be heard.

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