Govt says no probe as Raju goes to CID custody
The Andhra Pradesh Govt on Sunday announced that it will not order a probe into the projects secured by Mastas Infra or cancel them, reports Ashok Das.Satyam sinksindia Updated: Jan 19, 2009 03:08 IST
As Satyam’s ex-chairman Ramalinga Raju, his brother and former managing director Rama Raju and ex-chief financial officer V Srinivas were sent to the CB-CID guest house in Hyderabad, there was good news on the Maytas front too.
The Andhra Pradesh government on Sunday announced that it will not order a probe into the projects secured by Mastas Infra or cancel them.
Putting an end to speculations that the government may cancel the projects or takeover the company, K Rosaiah, state finance minister, said, “We will not act in haste. The government’s duty is to wait and see. If any of the projects are revoked, the government will have to pay a heavy penalty.”
The minister also said that various government departments were “closely watching and studying” the developments on a “daily basis”.
Releasing a detailed note on the projects awarded to Maytas, he said that Maytas and its partners had secured only Rs 5,439 crore of the total Rs 79,418-crore worth of irrigation projects being executed in the state. “All the projects have been awarded in a transparent manner, following due procedures, and there was no need for review,” Rosaiah said.
Meanwhile, Ramalinga Raju, who is not comfortable with his “ordinary” prisoner status, is seeking the status of a special-class prisoner. His lawyers will move the court on Monday. The Security and Exchange Board of India will also move the court, seeking permission to interrogate Raju.
First Published: Jan 18, 2009 19:23 IST