Hyderabad court to hear SEBI's plea on Satyam

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Hyderabad, Feb 18 (ANI): A city court in Hyderabad will hear a petition filed by the Securities and Exchange Board of India (SEBI) to question Satyam Computers former Chief Financial Officer, Vadlamani Srinivas and sacked Price Waterhouse auditors S Gopalakrishnan and Talluri Srinivas.

On Tuesday, the sixth Additional Chief Metropolitan Magistrate reserved orders for Wednesday after hearing arguments over SEBI's petition.

Earlier, the SEBI had interrogated Ramalinga Raju, former chief of embattled Satyam Computer Services Limited, and his brother, Rama Raju.

Meanwhile, Minister of Corporate Affairs Prem Chand Gupta said the government has ordered the Central Bureau of Investigation (CBI) to probe the accounting fraud in IT major Satyam Computer Services Ltd.

"While the Serious Fraud Investigation Office (SFIO) under his ministry had been given three-months to wrap up its probe into the Satyam scam, no time frame has been set for CBI," Gupta said.

He refused to launch an investigation into accounts of the companies audited by Price Waterhouse, the statutory auditors for Satyam.

Andhra Pradesh Police on Monday issued an order recommending a CBI probe into the scam. (ANI)

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