SEBI team goes to Raju's house; finds house locked
A Securities and Exchange Board of India (SEBI) team probing a financial fraud in Satyam Computer reached founder Ramaling Raju's house in Hyderabad, but returned as the premises was locked.business Updated: Jan 09, 2009 15:58 IST
A Securities and Exchange Board of India (SEBI) team probing a financial fraud in Satyam Computer on Friday reached founder Ramaling Raju's house in Hyderabad, but returned as the premises was locked.
Sources said the team, was also expected to go to Satyam headquarters again, and a notice has been issued from SEBI's Mumbai office asking Raju to appear before it. The SEBI team had first gone to Satyam office here on Thursday in connection with a probe ordered by the market regulator a day before.
The probe follows Satyam's founder and chairman Ramalinga Raju disclosing on Wednesday financial irregularities to the tune of about Rs 7,800 crore at the company, after which he resigned.
There have been speculations about the whereabouts of Raju, but his lawyer on Thursday said that Satyam founder was very much in Hyderabad. There are also speculations that Raju might be at a guesthouse on the outskirts of the city.