SATYAM FRAUD: SEBI, ROC SEIZE DOCUMENTS

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Even as officials of Securities and Exchange Board of India (SEBI) in coordination with Registrar of Companies seized documents from Information Technology major Satyam Computer Services, its former chairman B Ramalinga Raju agreed to appear before the regulatory authorities investigating into Rs 7,800-crore fraud.

Mr Raju's lawyer Bharat Kumar, who appeared before the SEBI in response to the notice served by the team, sought time till 1600 hrs tomorrow to appear before it; citing the crucial Board meeting in which Mr Raju is to attend in the morning.

The SEBI officals along with the RoC officials went to the office of Satyam and seized the documents from its premises and the record office of the company, according to official sources.

The regulatory bodies were also examining the accounts of eight sister concerns of the IT major in the wake of Raju admitting to manipulating the accounts.

The companies being examined included the Maytas Infra which had bagged the Metrorail and Machilipatnam sea port projects and Maytas Properties, Nipuna Services, Knowledge Dynamics, Nitor Global Solutions, CA satyam ASP and Satyam Venture Engineering Services.

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