Court reserves orders on SEBI plea | india | Hindustan Times
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Court reserves orders on SEBI plea

A city court has reserved its orders for tomorrow on a petition by the market regulator, SEBI to question Satyam Computers' former chief financial officer Vadlamani Srinivas and two former auditors.

india Updated: Feb 17, 2009 21:21 IST

A city court has reserved for Wednesday its orders on a petition by the market regulator, Securities and Exchange Board of India (SEBI), to question Satyam Computers' former chief financial officer (CFO) Vadlamani Srinivas and two former auditors.

Sixth Additional Chief Metropolitan Magistrate D Ramakrishna reserved the orders after hearing the arguments from both sides.

SEBI, which has already interrogated Satyam's former chairman B Ramalinga Raju and his brother B Rama Raju in jail, had last week moved the court for permission to quizz three other accused.

Mastan Naidu Cherukuri, counsel for the former auditors from PriceWaterhouse, said the auditing firm did not have any objection to SEBI recording the statements.

S Gopalakrishnan and Talluri Srinivas allegedly colluded with Ramalinga Raju and others to fudge the accounts.

All the five, accused in the Rs 78-billion (Rs 7,800 crore) accounting fraud, are currently lodged in Chanchalguda central jail in Hyderabad.

The court will also rule on Wednesday on the plea of income tax department to question Ramalinga Raju for three days.

Also, the magistrate will pronounce orders on Wednesday on the fresh bail pleas of the Raju brothers and former CFO Srinivas.

Their earlier petitions were dismissed on January 28.