Satyam’s Raju surrenders, arrested
Former Satyam chief Ramalinga Raju was arrested on Friday night, after he surrendered before the state DGP. Andhra cops are interrogating Raju.
Earlier in the day, Andhra Pradesh CID filed criminal case against former Satyam chief Ramalinga Raju.
Andhra Pradesh chief minister Y S Rajasekhara Reddy said the CB-CID is independently probing the financial fraud in Satyam Computers, as it appeared likely that its founder Ramalinga Raju would be arrested, PTI reported.
The existing board of the company was scheduled to meet tomorrow to discuss the crisis that has engulfed the company and it’s over 50,000 employees. Founder of Satyam B Ramalinga Raju, who has been summoned by market regulator Sebi on Saturday, had resigned as Chairman after disclosing staggering financial fraud. Five other directors had also resigned leaving the strength only at three.