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The action by the law enforcement authorities here is likely to be suo motu as it has not received any formal complaint so far, the police sources said.
The authorities have been witnessing significant pressure over the issue and this might be the reason for their expected move towards arresting Raju, the sources said.
On Wednesday, Ramalinga Raju admitted major financial irregularities to the tune of about Rs 7,800 crore at the company before resigning.
Raju also said that he was ready to face the consequences and was subjecting himself to the law of the land.
The same day, the company's CEO and MD Rama Raju -- brother of Ramalinga Raju -- also resigned, while the next day its Chief Financial Officer quit the company.
With the company and its 53,000 employees left with an uncertain future, Andhra Pradesh Chief Minister Y S R Reddy has written to Prime Minister Manmohan Singh urging the Centre to set up a committee to manage the company's affairs.
On Thursday, a team of market regulator SEBI's officials reached Hyderabad in connection with a probe announced a day before on the company and its dealings in stocks.
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Raju, after his arrest will be admitted in the hospital because of chest painThis is the standard formula of the rich and famousEnd of the day, Raju will walk free..after years and years of this case being dragged in the court.The only hope for clean and honest justice is US, where a lawsuite is filed.Laws are straight, honest and anyone who violates is taken to task
Many who enjoyed the world during the Satyam business empire's growth, now conveniently forgot that they earned despite of their company's loss. In a country like India there may be many companies which shows incorrect figures in their balance sheet... It can also happen considering or assuming some future business.... If it would have materialised people would not have know about this scam at all.... Also a possibility is that taking political masters into too much confidence might have caused the downfall of Sayam empire...
There will be flight of capital to integrity in the Indian capital markets. Mark my words.
Why such an inordinate delay in arresting the fraudster for his culpable crime of cheating millions of retail investors? is'nt the delay likely to provide breathing time to the wrong doers to hide under a cover and detroy some critical evidence(s).
Investgate the role of auditing firms Pwc what have they audited? They should be held responsible in the first place. They are permitting these frauds by compromising on the situations. If they r incompetent their licences should be taken away for life and the auditors put behind bars. If they had done their job no CEO will dare to b doing wrong things. If the judges compromise then crime will never be punished. These auditors are the fortune companies can't let them go scotfree. Penalize them heavily with money as well in fines and close such auditors.
yes he must be arrestted because he has done crimeand for itpunishmentmust be necessary.
Raju is the fall guy. There is much more to the fraud than is obvious.Truth (Satyam) may not come out in the open with all the investigations going on. But the Company with such a rich knowledge base can not be allowed to run down. It is a pity many other organisations and institutions such as PWC, ISB will also suffer in the bargain.
SEBI,ICAI and all other authorities pls coorect me n this if , this may not be the first of case where PWC were the auditors First it was Global Trust Bank, DSQ software was next and now Satyam Computers. i read in the newspapers PWC are auditing more than 50 companies so not sure if these people are not competant or in tendom with mgt to decorate the books. is anyone listening and taking any actions against so called professional and statutory auditors?
Please start a process to arrest corrupt politicians who swindle crores belonging to the poor.