'Ramalinga Raju is in Hyderabad'

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'Raju is in Hyderabad'
New Delhi, Jan 8: Ramalinga Raju's lawyer Bharat Kumar has denied the TV channel reports that Raju has fled the country. Kumar clearly stated that Raju is very much staying in Hyderabad and ready to face any probe.

S Bharat Kumar is Raju's legal representative. Earlier in the day, a team from regulator SEBI reached Hyderabad to begin a probe into the Satyam scandal. Raju faces Rs 7,000 crore fraud case, which was admitted by Raju himself.

The probe committee is headed by Sebi's southern region general manager A Sunil Kumar. Investigations are on into the scandal, a senior official said. A special team was formed by SEBI, after IT giant Satyam's disgrace ex-chairman B Ramalinga Raju confessed gross manipulations in the company's balance sheets in the past several years, on Wednesday, Jan 7. He faces arrest and could serve as much as seven years in jail. But currently Raju remains untraceable.

The news of Raju absconding and being fled to Texas spread like wild fire earlier in the day. Raju has not been seen to the public after he admitted his fraud. Some media channels reported that Raju has left for Texas or Dubai.

There is a petition pending over his Maytas deal for which British Telecom's Solutions firm - U-paid had demanded presence of Raju and senior directors of Satyam for questioning by its lawyers.

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OneIndia News (With inputs from Agencies)

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