Court to hear Satyam case today

Court to hear Satyam case todayA Hyderabad court will take up Satyam case and hear the arguments of disgraced Satyam chief B Ramalinga Raju to provide him bail in connection with corporate audit fraud worth Rs 7,000-crore.

Raju along with his brother and CFO of company, Vadlamani Sriniva filed a petition in court to grant them bail as they are fully co-operating in the investigations.

Police is expected to counter the bail petition and ask for their judicial remand.

The court would also hear the petitions filed by Security and Exchange Board of India and Criminal Investigation Department on the same day.

SEBI's lawyer, on Wednesday, said that SEBI's investigation is delaying due to his judicial custody.

Meanwhile, CID can interrogate top executives and directors of Satyam Computer Services. It had already seized records from computer hard disks and other documents which would be used in interrogation.

Meanwhile, Ramalinga Raju's lawyer, S Bharath Kumar said that he would oppose Raju's interrogation by SEBI. Raju needs to access records, which is impossible till he is in police custody. He would ask SEBI through court that the regulator should interrogate him only after his release from the police custody.

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