A Securities and Exchange Board of India (SEBI) team probing a financial fraud in Satyam [Get Quote] Computer on Friday reached founder Ramaling Raju's house here, but returned as the premises was locked. Sources said the team, was also expected to go to Satyam headquarters again, and a notice has been issued from SEBI's Mumbai office asking Raju to appear before it.
The SEBI team had first gone to Satyam office in Hyderabad on Thursday in connection with a probe ordered by the market regulator on Wednesday.
The probe follows Satyam's founder and chairman Ramalinga Raju disclosing on Wednesday financial irregularities to the tune of about Rs 7,800 crore (Rs 78 billion) at the company, after which he resigned.
There have been speculations about the whereabouts of Raju, but his lawyer on Thursday said that Satyam founder was very much in Hyderabad. There are also speculations that Raju might be at a guesthouse on the outskirts of the city.
The Satyam fiasco: Complete Coverage
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