SC to hear SEBI's petition on Feb 3

Written by: Super Admin
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New Delhi, Feb 2: The Supreme Court (SC) will on Tuesday, Feb 3 be hearing the petition filed by market regulator, Securities and Exchange Board of India (SEBI) to interrogate chairman of the fraud-hit Satyam Computers, Ramalinga Raju and his brother Ramaraju.

Solicitor General, G E Vahanvati has filed a request at the SC on behalf of the SEBI to allow it to interrogate Ramalinga Raju and his brother's role in the scam of Satyam.

A bench headed by Chief Justice KG Balakrishnan assured Vahanvati that it will hear the law suit Tuesday.

The regulator earlier moved the Andhra Pradesh High Court for permission to question the Raju brothers in the Rs.70-billion (Rs.7,000-crore/$1.43-billion) accounting fraud.

However, the high court Jan 30 adjourned the hearing on SEBI's petition to Feb 9.

OneIndia News (With inputs from Agencies)

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