HYDERABAD: The former chairman of Satyam Computer Services B Ramalinga Raju and his brother Rama Raju, who were arrested amid high drama by the Andhra Pradesh police on Friday night, will appear in court on Saturday.
At Saturday's hearing authorities will seek permission to hold Raju and his brother in custody for further interrogation, said VSK Kaumudi, inspector general of police in the crime investigation department in the southern city of Hyderabad.
B Ramalinga Raju and his brother Rama Raju were questioned by the police throughout the night.
Police questioned the two for more than three hours, Raju lawyer Bharat Kumar said on Saturday morning.
The crime branch of Andhra Pradesh booked the two after questioning under charges of fraud, forgery.
Bharat Kumar said that the two have been booked under Section 120 b (criminal conspiracy), 420 (cheating), 406, 467 and 427 (criminal breach of trust, forgery and using forged documents as genuine).
Bharat Kumar said notices were issued around 8.30pm after which they both the brother went to the police and they were arrested.
The lawyer added that Raju was also examined by a team of doctors after he complained of uneasiness.
Satyam, which specializes in business software and back-office services for clients including General Electric and Nestle, is based in Hyderabad.
Raju resigned on Wednesday after revealing years of accounting fraud, including an admission that about $1 billion, or 94% of the cash and bank balances on Satyam's books at end-September, did not exist.
The board of Satyam, which was scheduled to meet on Saturday, has been dissolved by the government and a minister has said a new board would be constituted with 10 members, which would meet within seven days. There was no move at this time, however, to take over Satyam's management, said corporate affairs minister Prem Chand Gupta on Friday.
Analysts said Satyam's very existence was threatened by the scandal, which stand-in chief executive Ram Mynampati said has pushed the company into a crisis of unimaginable proportions.
The company's market value has shrivelled to $330 million, from more than $7 billion six months ago.
Source: http://timesofindia.indiatimes.com/Satyams_Raju_to_be_produced_in_court_today/articleshow/3959275.cms
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