Court to hear Raju`s bail plea; SEBI plea on Jan 16

Hyderabad, Jan 12 (PTI) A city court in India's eastern
part Monday deferred till January 16 hearing on bail
applications filed by Satyam's three disgraced executives
including Ramalinga Raju, as also market regulator Securities
and Exchange Board of India's (SEBI) plea for quizzing Raju.

Hearing on the bail plea will be taken up by the 6th
Chief Metropolitan Magistrate on January 16, Raju's lawyer
Bharat Kumar told reporters, adding that a team of 25 lawyers
has been put together to defend Raju and others.

Besides Raju, his brother Rama Raju and Satyam's CFO
Vadlamani Srinivas too are in judicial custody till January 23
and are lodged in the Chanchalguda central prison.

SEBI too had filed a petition seeking the court's nod for
interrogating Raju and the two others while they are in
judicial custody, but Raju's lawyer sought a day's time to
file a counter petition. Following this, the court posted the
matter for hearing on January 16.

The Rajus were arrested by the state CB-CID police on
Friday, two days after Ramalinga disclosed a Rs 7,800
financial fraud in Satyam founded by him in 1987. Vadlamani
Srinivas was arrested on Saturday.

Separate teams from SEBI and the Serious Fraud
Investigation Office of the Corporate Affairs Ministry are
camping in the city to interrogate Raju.

While SEBI has been questioning the company's dislodged
interim CEO Ram Mynampati for a while now, the CB-CID police
has launched searches in the houses of the Rajus and Srinivas.
PTI