SEBI summons Raju

Published: January 9, 2009 - 17:58 Updated: January 13, 2009 - 15:05

SEBI summons Raju

Sandeep Kumar.

Things are getting worse for Ramalinga Raju, former CEO and the founder of Satyam computers after Securities and Exchange Board of India decides to summon him at Satyam corporate office in Hyderabad. "SEBI has summoned Raju today at 4.30 p.m.", says Raju's lawyer Bharat Kumar.

Raju, who has been untraceable since his resignation, is believed to be at his farm house at Kompally on the outskirts of Hyderabad. Earlier SEBI officials had gone to his residence and found out the premises locked.

Meanwhile, Criminal Investigation Department of the Andhra Pradesh Police has launched investigation into the Satyam scandal as the state government gave it a green signal today. The case will be supervised by Director General of Police, SSP Yadav.  However, there has been no information regarding the arrest of the ex-chairman as Raju's confessional statement written to SEBI ends the probability of forming the evidence, says police sources.