Speedy arrest of Raju delaying probe: SEBI

Posted By: Staff
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Hyderabad, Jan 15: The speedy arrest of disgrace Satyam Computer chief B Ramalinga Raju is delaying the market regulator's probe into the case, opined Pradyumna Kumar Reddy, lawyer of the Securities and Exchange Board of India (SEBI), on Wednesday, Jan 14.

Reddy's remarks added fuel to the already spread rumour that Raju was arrested in a haste to delay his interrogation by SEBI. SEBI's general manager Sunil Kumar has been appointed as the investigating authority in Satyam case. He arrived to Hyderabad on Jan 8 itself, within 24 hours of Raju's confession, Reddy told.

He also added that SEBI had issued summons to Raju to appear in Satyam's office on Jan 9, at 4.30 pm, but he did not turn up. His lawyer S Bharat Kumar represented him Raju was arrested on Jan 9 night."If the investigating authority could have recorded his statement on January 9, it would have been able to submit the same at the earliest to the executive director," Reddy said.

SEBI filed an application to record Raju's statement on Jan 12 when an application was filed by Raju's lawyer Bharat Kumar for his bail application. SEBI's plea will come up for hearing on January 16 along with his bail plea.

Officials of the Registrar of Companies (RoC) raided Satyam's Mayfair office in Secunderabad on Wednesday, Jan 14.

OneIndia News (With inputs from Agencies)

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