HYDERABAD: Sixth additional chief metropolitan magistrate D Ramakrishna on Wednesday accorded permission to the income tax authorities to question Satyam founder B Ramalinga Raju and record his statement in connection with the scam. The authorities are permitted to question him on February 21 between 10.30 am and 5pm. Raju's lawyer can be present in the jail when the IT sleuths quiz him.
Similarly, the magistrate accorded permission to the market regulator Sebi to question and record the statements of Satyam former CFO Vadlamani Srinivas and Price Water auditors S Gopalakrishnan and Talluri Srinivas.
According to this order, the Sebi authorities can question the auditors on Thursday and Srinivas on Friday.
Meanwhile, the magistrate dismissed the bail applications of Ramalinga Raju, Rama Raju and Vadlamani Srinivas on the ground that the investigation is still under progress and hence cannot be set free at this stage. Public prosecutor K Ajay Kumar argued against granting bail as it would hamper the investigation and also the accused would influence the witnesses.
Meanwhile, Stock Investors Hub, a Kerala-based firm, which is fighting a legal battle against the Satyam fraud in the A P High Court, has filed a petition on Wednesday urging the court to monitor the Satyam probe even after the CBI took it over.
Citing an earlier instance wherein the Supreme Court had directed the CBI inquiring into a case pertaining to Bihar and also the criminal court which was hearing the case to regularly brief the chief justice of Patna High Court on the progress in the investigation and trial of the case, K G Achutan, the financial advisor of the petitioner, sought a similar direction to the CBI.
The Satyam scam which involved Rs 7,800 crore fraud too requires regular monitoring by the high court, he said. If it is not regularly monitored, there could be delay in the investigation resulting in damage to the case itself, he said.
Source: http://timesofindia.indiatimes.com/Business/India-Business/Bail-petitions-of-Raju-brothers-Srinivas-dismissed-/articleshow/4149862.cms
Similarly, the magistrate accorded permission to the market regulator Sebi to question and record the statements of Satyam former CFO Vadlamani Srinivas and Price Water auditors S Gopalakrishnan and Talluri Srinivas.
According to this order, the Sebi authorities can question the auditors on Thursday and Srinivas on Friday.
Meanwhile, the magistrate dismissed the bail applications of Ramalinga Raju, Rama Raju and Vadlamani Srinivas on the ground that the investigation is still under progress and hence cannot be set free at this stage. Public prosecutor K Ajay Kumar argued against granting bail as it would hamper the investigation and also the accused would influence the witnesses.
Meanwhile, Stock Investors Hub, a Kerala-based firm, which is fighting a legal battle against the Satyam fraud in the A P High Court, has filed a petition on Wednesday urging the court to monitor the Satyam probe even after the CBI took it over.
Citing an earlier instance wherein the Supreme Court had directed the CBI inquiring into a case pertaining to Bihar and also the criminal court which was hearing the case to regularly brief the chief justice of Patna High Court on the progress in the investigation and trial of the case, K G Achutan, the financial advisor of the petitioner, sought a similar direction to the CBI.
The Satyam scam which involved Rs 7,800 crore fraud too requires regular monitoring by the high court, he said. If it is not regularly monitored, there could be delay in the investigation resulting in damage to the case itself, he said.
Source: http://timesofindia.indiatimes.com/Business/India-Business/Bail-petitions-of-Raju-brothers-Srinivas-dismissed-/articleshow/4149862.cms
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