AP Police may arrest Raju on Jan 9

Written by: Super Admin
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Hyderabad, Jan 9: The Andhra Police may arrest Ramalinga Raju, the man behind the Satyam fiasco, on Friday, Jan 9 as pressure is mounting up on the Andhra Police. Sources are stating that police may file a suo moto case against Raju. However, the final decision lies in the hands of Chief Minister of Andhra Pradesh, Y S Rajasekhar Reddy.

On Wednesday, Jan 7, Ramalinga Raju resigned from the Chairman's post along with a letter to the SEBI and Satyam Board members admitting a fraudulence of Rs 7000 crore.

"It was like riding a tiger, not knowing how to get off without being eaten," he said in the letter and listed major financial wrong-doings over the years to inflate the profits.

On Thursday, Jan 8 interim CEO Ram Mynampati announced in a press conference, Satyam"s CFO Srinivas Vadlamani had also tendered his resignation, and said the board would take a decision in its meeting on Jan 10.

OneIndia News (With inputs from Agencies)

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