The Hindu : Front Page : Residences searched, papers seized

Online edition of India's National Newspaper
Monday, Jan 12, 2009
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Front Page

Front Page

Residences searched, papers seized

N. Rahul

HYDERABAD: Another key accused in the Rs. 7,100 crore Satyam Computer Services fraud, Vadlamani Srinivas, who was Chief Financial Officer and considered close to the ex-chairman, B. Ramalinga Raju, was remanded to judicial custody till January 23 on Sunday, a day after his arrest.

Mr. Srinivas was produced before the Sixth Additional Chief Metropolitan Magistrate D. Ramakrishna who ordered him to be shifted to the Chanchalguda Central Jail where Mr. Ramalinga Raju and his brother, Rama Raju, are already lodged. Police did not rule out the possibility of arresting Ram Mynampati, who was made interim Chief Executive Officer by Mr. Ramalinga Raju.

Police extensively searched the residences of the Raju brothers and Mr. Vadlamani besides the offices of Satyam in Hyderabad and the outskirts. They seized a large quantity of documents, several computers, laptops and hard disks which could possibly contain information pertaining to the magnitude of the fraud in the IT major.

Meanwhile, an application by police for taking custody of the two brothers and the former CFO will come up for hearing before the magistrate court for Criminal Investigation Department (CID) cases.

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