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Court denies SEBI access to Raju

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ANI

Posted: Jan 16, 2009 at 1442 hrs IST

Hyderabad A Hyderabad court posted to January 19 hearing on a petition by market regulator SEBI seeking permission to question Satyam Computer's former Chairman Ramalinga Raju and two others.

The petition was filed before a magistrate court in Hyderabad seeking permission for interrogating Raju, his brother Rama Raju and Satyam's former CFO Vadlamani Srinivas while they are in judicial custody.

Raju's lawyer had earlier sought a day's time to file a counter petition, following which the court posted the matter for hearing today. However, it has now been posted for hearing on January 19.

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Satam scam by Y.Jagannatham on 17 Jan 2009

Is it programmed that a situation that SEBI is being evaded a direct inquiry of Satyam'sex-Chairman Ramalingaraju ? The country awaits the true and complete story of the fallof Satyam Computer Services. Access for SEBI to question the arrested persons is important to unravel the scam of the year.The poor investor has to be remembered who lost his life's savings . The board of directors should put a plan in place to recoup their loss to possible extent.

Pls give more powers to SEBI/BSE/NSE/NSDL/DCA/MCA by Kumudha on 17 Jan 2009

The whole system seems to be highly corrupt and can be bought so easily. – PM and PC keeps boasting of UPAs corrupt free system. Plus all Our Regulators SEBI/BSE/NSE/NSDL/DCA/MCA do not seem to have enough powers to take action erring companies. We have a grievance against STERLITE INDUSTRIES who Forcibly took away shares acquired thru IPO in 1993. We must have written innumerous complaints to SEBI/BSE/NSE/NSDL/DCA/MCA but in vain. All they do is just forward the complaints and companies ignore and devious in their reply. It appears that company is very confident that SEBI/BSE/NSE /NSDL/DCA/MCA are powerless and cannot do anything. Cleverly they keep changing the registrars from PCS Data to Sharepro to Karvy. Good luck to all investors – Lopesh Kumudha and Suresh

Politicians responsible for satyam fraud by snovite on 16 Jan 2009

More important in satyam case is to find out those politicians to whom Raju had paid or promised to pay a good amount of bribe to get govt projects for his company mityas.

SEBi is arrogant? by R.Balasundaram on 16 Jan 2009

Raju is innocnt; he requires the support of the congress govt of AP to gain time and thwart the attempts of independent bodies like SEBI!

Raju and his friends in govt by rajnish on 16 Jan 2009

Its becoming very obvious that Andhra govt is helping Raju to avoid interrogation by SEBI. A delay will allow Raju and his accomplices to hide/ remove as much incriminating proofs as possible. Its amazing to see such brazen audacity both in the accused as well as the politicians. Somewhere they have a belief that they will get away with it. Onus is on the people and the media to ensure they don't.

all r hand in glove to help raju by kirit shah on 16 Jan 2009

it is strange tht the main agency tht should be given permission to check the fraud is sebi but is notallowed. it was understood tht all agencies will act in tandem and not in cross purposes. but it is not happening.pmo was to looking at it also i wonder if this is the result.general people r always taken for ride by influential people with the help of political and other people at the helm.

Doubts about intentions of Andhra Govt. by Satish Kumar on 16 Jan 2009

Now, this definitely looks like a big effort by state government to save Raju. Some sections of media were earlier expressing doubts about the intentions of Andhra govt in this whole scam. Now they doubts seem to be turning into reality.What was the need to rush to arrest Raju when he was still in the country and not fleeing? Why did they hurry up the arrest when they knew that SEBI and ROC officials were coming to Hyderabad to question Raju. There is definitely some sort of attempt by certain ministers and officers in Andhra govt to save Raju.

Raju Bangaye 420(3) by SP on 16 Jan 2009

Raju in his letter to Directors and SEBI had expressed his willingness to face the Law for his omissions and commissions but, he is doing exactly the opposite since then. This only gives credence to the general thinking that the hole in the Satyam books is not due to over reporting of profits but due to pilferage by Raju.

Ardha Satya by M K RAJAGOPAL on 16 Jan 2009

It is tragic to see how the culprit is being helped by legal fratenirty especially Raju himself has admitted the fraud. I am sure some politicians are also involved trying to rescue. Unlike other cases which drag on for years, this should be dealt with on war footing and the " Satya" is disposed to the word to know. Everyone behind this scam should be dealt with severely as a lot of guiilible investors have lost their savings in this Asatyam Company.

Raju's bail by L Gurumurthy on 16 Jan 2009

A small correction he is helped by his political fratenirty not legal.

All supporting Raju by Mohan on 16 Jan 2009

It is not legal or political faternity, its Andhra faternity. Somebody needs to approach to pull out this case from Andhra and hold it elsewhere. Otherwise I am sure of coverups. See the hero worship and idolising of Raju going on in Andhra

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