Supreme Court to hear regulator’s plea on Satyam Rajus Tuesday

NEW DELHI - The Supreme Court will Tuesday hear a petition filed by the market regulator seeking permission to interrogate B. Ramalinga Raju, former chairman of the fraud-hit Satyam Computer Services, and his brother B. Rama Raju.

Solicitor General G.E. Vahanvati filed the request at the apex court on behalf of the Securities and Exchange Board of India (SEBI) toallow it to quiz the Raju brothers for their role in the country’s ‘most serious financial scam in the corporate history’.

A bench headed by Chief Justice K.G. Balakrishnan assured Vahanvati that it will hear the law suit Tuesday.

The regulator earlier moved the Andhra Pradesh High Court for permission to question the Raju brothers in the Rs.70-billion (Rs.7,000-crore/$1.43-billion) accounting fraud.

However, the high court Jan 30 adjourned the hearing on SEBI’s petition to Feb 9.


Leave a Reply

Protected by Comment Guard Pro