High Court stays ED order in Satyam case

The Andhra Pradesh High Court on Tuesday stayed a provisional order of Enforcement Directorate attaching Rs 822 crore (Rs 8.22 billion) deposit belonging to Mahindra Satyam in a money laundering case involving former Satyam Chairman B Ramalinga Raju and others.

Justice P V Sanjay Kumar also stayed the notice issued by the adjudicating authority to Mahindra Satyam (Satyam Computer Services Ltd), asking company officials to appear before it with regard to the case.

The Enforcement Directorate had on October 18 issued a provisional attachment order of the company's fixed deposits of Rs 822 crore in the money laundering case related to the previous management.