01-12-2009, 12:04 AM
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Raju in jail, CFO grilled</b>
PNS | Hyderabad/New Delhi
pioneer.com
SEBI in huddle, interim Board being cobbled
Satyamâs disgraced founder Ramalinga Raju and his brother Rama Raju were on Saturday sent to judicial custody for 14 days while the companyâs Chief Financial Officer was picked up for questioning, as the Government and regulator SEBI huddled in Delhi to put a new management together to run the IT company.
Raju and his brother were produced before the 6th Chief Metropolitan Magistrate who remanded them to judicial custody till January 23, their lawyer Bharat Kumar said. Inspector General of Police (CID) V S K Kaumudi said Satyamâs CFO Vadlamani Srinivas has been picked up for questioning and interrogation was on in the DGPâs office.
In Delhi, SEBI chairman C B Bhave called on Corporate Affairs Minister Prem Chand Gupta to discuss co-ordinated action against Satyam, whose profits Raju admitted to inflating over the years, besides nominating new directors to te companyâs Board.
Gupta apprised Prime Minister Manmohan Singh on the developments. Andhra Pradesh Chief Minister Y S Rajasekhara Reddy too called Singh to update him on the Satyam front, which the Government has said dented corporate Indiaâs image globally.
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PNS | Hyderabad/New Delhi
pioneer.com
SEBI in huddle, interim Board being cobbled
Satyamâs disgraced founder Ramalinga Raju and his brother Rama Raju were on Saturday sent to judicial custody for 14 days while the companyâs Chief Financial Officer was picked up for questioning, as the Government and regulator SEBI huddled in Delhi to put a new management together to run the IT company.
Raju and his brother were produced before the 6th Chief Metropolitan Magistrate who remanded them to judicial custody till January 23, their lawyer Bharat Kumar said. Inspector General of Police (CID) V S K Kaumudi said Satyamâs CFO Vadlamani Srinivas has been picked up for questioning and interrogation was on in the DGPâs office.
In Delhi, SEBI chairman C B Bhave called on Corporate Affairs Minister Prem Chand Gupta to discuss co-ordinated action against Satyam, whose profits Raju admitted to inflating over the years, besides nominating new directors to te companyâs Board.
Gupta apprised Prime Minister Manmohan Singh on the developments. Andhra Pradesh Chief Minister Y S Rajasekhara Reddy too called Singh to update him on the Satyam front, which the Government has said dented corporate Indiaâs image globally.
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