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Where is Ramalinga Raju? | Satyam faces lawsuit in US
Published on Thu, Jan 08, 2009 at 12:30, Updated on Thu, Jan 08, 2009 at 18:01 in Business section
Tags: Satyam Shares, Satyam News , Hyderabad
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Hyderabad: Where is B Ramalinga Raju? Everyone is trying to find an answer to the question after the chairman of Satyam Computers resigned on Wednesday confessing to a Rs 7,000 crore fraud.
A team of officials from market regulator Securities and Exchange Board of India (SEBI) will arrive in Hyderabad on Thursday to begin a probe amid speculation that police might arrest Raju, but nobody knows his whereabouts.
Raju became incommunicado after sending a letter to the Satyam Board of Directors on Wednesday morning. There was utter confusion after a TV channel reported that he had left either for the US or Dubai.
Raju is believed to have met nobody in the last two days. It is also possible that he might have handed over his letter to company officials before becoming incommunicado.
Sources in Satyam, however, said he was in Hyderabad and might address a press conference later in the day. The reporters who rushed to his house in upmarket Jubliee Hills were told by the security guards that he was attending a meeting in Satyam Infocity at Madhapur.
However, no senior official from Satyam could be reached to confirm this. A large group of reporters waited outside Satyam Infocity till late on Wednesday night but in vain.
The Hyderabad police were also reportedly trying to find the whereabouts of Raju.
The Andhra Pradesh government has ordered a probe by crime branch. Police Commissioner B Prasada Rao on Wednesday said they would act only if a shareholder or regulator lodges a complaint against Raju.
Some police teams were also sent to Satyam offices in the city to find Raju's whereabouts but they were unsuccessful in tracing him as well.
Meanwhile, even as Satyam employees are looking elsewhere for jobs, and the industry as a whole is too shocked to react, outgoing chairman B Ramalinga Raju has found a sympathiser in the form of Andhra Pradesh Chief Minister, Y S Rajasekhara Reddy.
Reddy has urged the Prime Minister to intervene by appointing a team to manage Satyam's affairs. He has asked that a team be constituted to include who he calls men of integrity like Infosys's Narayana Murthy and Wipro's Azim Premji.
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I believe that a bubble is not a globe though it is shaped thus.
To be like
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I believe that a bubble is not a globe though it is shaped thus.
To be like
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Chennai: A legendary entrepreneur overstated his companyâs assets and understated the liabilities. Many clients who had reposed their trust in
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Why look for Raju? The PWC team should answer how they certified a bank balance of over Rs 5000 crores
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Raju Sir,
We all satyamities are with you with heart and soul.
We know what you are a
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