SEBI moves Supreme Court to grill Satyam Raju
Market regulator SEBI today moved the Supreme Court seeking permission to interrogate B Ramalinga Raju founder of Satyam Computer Services on the Rs 7,800 crore fraud in the IT company.
SEBI said it was constrained to approach the apex court for urgent relief related to the most serious financial scam that had large-scale national and international ramifications. Similar plea by SEBI to AP High Court had been beset with legal technicalities of admission.
A bench headed by Chief Justice K G Balakrishnan allowed SEBI to mention the matter tomorrow after Solicitor General G E Vahanvati and Counsel Pratap Venugopal submitted the request on behalf of SEBI.