Ramalinga Raju, others sent to CBI custody

March 9th, 2009 - 6:48 pm ICT by IANS  

Hyderabad, March 9 (IANS) A city court Monday sent disgraced former chairman of Satyam B. Ramalinga Raju and four other accused to seven-day custody of Central Bureau of Investigation (CBI).
The court allowed CBI to take custody of the Ramalinga Raju, his brother and former managing director B. Rama Raju, former chief financial officer Vadlamani Srinivas and sacked Pricewaterhouse partners S. Gopalakrishnan and Talluri Srinivas.

Pronouncing the orders the Fourteenth Additional Chief Metropolitan Magistrate S. Samuel Victor Emmanuel directed the CBI to question the accused between 10 a.m. and 5 p.m. in the presence of their lawyers.

The CBI will interrogate the accused for the first time after taking up investigations into Rs.78 billion (Rs.7800 crore) scam from Crime Investigation Department (CID) of Andhra Pradesh police last month.

The CBI’s multi-disciplinary investigation team (MDIT) headed by the agency’s DIG V.V. Lakshmi Narayana is likely to quiz the accused at state-owned Dilkusha Guest House, which is serving as the camp office of the MDIT.

The court Monday also dismissed the bail petition of former auditors of Pricwaterhouse. This is the third time that their bail plea has been dismissed by the court.

The magistrate posted to March 18 hearing on the bail petition of Vadlamani Srinivas.

The CBI has already filed a case against the accused under sections 120-B (Criminal Conspiracy), 409 (Criminal breach of trust by public servant), 420 (cheating), 467 (forgery), 468 (forgery for purpose of cheating), 471 (forging documents including electronic) and 477A (falsification of accounts) of the Indian Penal Code.

Ramalinga Raju Jan 7 confessed that he had cooked the company’s account books and inflated profits over the past several years.

The company founder and his brother Rama Raju were arrested by the CID Jan 9. Former chief financial officer Vadlamani was picked up the following day. The three along with two former auditors from Pricewaterhouse are currently lodged in Chanchalguda central jail here.

The court had Saturday extended their judicial custody till March 20.

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