Andhra Pradesh today said it had no problem in a probe by any agency to unravel the Satyam fraud, after the state police made headway and arrested company founder Ramalinga Raju and his brother Rama Raju. The Rajus are in judicial custody till January 23 and the state's Criminal Investigation Department has already arrested Satyam's CFO Vadlamani Srinivas and is believed to be quizzing auditor Price Waterhouse's representative Gopal Krishnan.
"Nothing prevents CBI from inquiring into this... Nothing on earth prevents any other law enforcement agency from inquiring into them," Andhra Pradesh Chief Minister Y S Rajasekhara Reddy told reporters here today. Separate investigation teams from market regulator Sebi and the Serious Fraud Investigation Office (SFIO) of the Corporate Affairs Ministry had reached Hyderabad as early as Thursday, but could not access the Rajus, who gave themselves up to the state police on Friday and were remanded to judicial custody yesterday.
The police had asked Sebi and SFIO to get the Economic Offences Court's permission to interrogate Raju. Meanwhile, the CB-CID began searching the Satyam office premises today.
Reddy said the CB-CID has already booked a case of fraud after Raju on Wednesday disclosed fudging accounts to the tune of Rs 7,800 crore over several years, but the Corporate Affairs Ministry and Sebi were looking into all other aspects of commissions and omissions that fall under their purview.
"We are trying to take all steps in coordination so that the interest of the 53,000 employees, shareholders and investors are safeguarded," the chief minister said.
