SEBI plea to quiz Ramalinga Raju deferred

January 16th, 2009 - 3:49 pm ICT by IANS  

Ramalinga RajuHyderabad, Jan 16 (IANS) The plea by India’s market regulator Securities and Exchanges Board of India (SEBI) to question Ramalinga Raju, the disgraced former chairman of Satyam Computer Services, was deferred to Monday by a court here Friday.The police plea to extend the stay of Ramalinga Raju, his brother and Satyam’s former managing director Rama Raju and former chief financial officer Srinivas Vadlamani will be taken up in court later Friday.

SEBI officials want to follow up on Ramalinga Raju’s startling confession on Jan 7 that he had overstated the company’s financial position by Rs.70 billion ($1.43 billion).

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