Rediff India Abroad
 Rediff India Abroad Home  |  All the sections

Search:



The Web

India Abroad




Newsletters
Sign up today!

Get news updates:
  


Home > India > Business > PTI > Report

   Discuss   |      Email   |      Print   |   Get latest news on your desktop

SEBI team finds Raju's house locked

January 09, 2009 15:37 IST

A Securities and Exchange Board of India (SEBI) team probing a financial fraud in Satyam [Get Quote] Computer on Friday reached founder Ramaling Raju's house here, but returned as the premises was locked.

Sources said the team, was also expected to go to Satyam headquarters again, and a notice has been issued from SEBI's Mumbai office asking Raju to appear before it.

The SEBI team had first gone to Satyam office in Hyderabad on Thursday in connection with a probe ordered by the market regulator on Wednesday.

The probe follows Satyam's founder and chairman Ramalinga Raju disclosing on Wednesday financial irregularities to the tune of about Rs 7,800 crore (Rs 78 billion) at the company, after which he resigned.

There have been speculations about the whereabouts of Raju, but his lawyer on Thursday said that Satyam founder was very much in Hyderabad. There are also speculations that Raju might be at a guesthouse on the outskirts of the city. 

The Satyam fiasco: Complete Coverage



© Copyright 2008 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

   Email   |      Print   |   Get latest news on your desktop



Advertisement
Advertisement