SC to hear SEBI's plea on Raju brothers tomorrow
The Supreme Court will hear a petition filed by the SEBI seeking permission to interrogate B Ramalinga Raju, former chairman of the fraud-hit Satyam Computer Services, and his brother B Rama Raju.See specialbusiness Updated: Feb 02, 2009 16:29 IST
The Supreme Court on Tuesday will hear a petition filed by the market regulator seeking permission to interrogate B. Ramalinga Raju, former chairman of the fraud-hit Satyam Computer Services, and his brother B. Rama Raju.
Solicitor General G.E. Vahanvati filed the request at the apex court on behalf of the Securities and Exchange Board of India (SEBI) toallow it to quiz the Raju brothers for their role in the country's “most serious financial scam in the corporate history”.
A bench headed by Chief Justice K.G. Balakrishnan assured Vahanvati that it will hear the law suit Tuesday.
The regulator earlier moved the Andhra Pradesh High Court for permission to question the Raju brothers in the Rs.70-billion (Rs.7,000-crore/$1.43-billion) accounting fraud.
However, the high court Jan 30 adjourned the hearing on SEBI's petition to Feb 9.