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CB-CID is probing Satyam fiasco

Andhra Pradesh Chief Minister Y S Rajasekhara Reddy on Friday said the CB-CID is independently probing the financial fraud in Satyam  Computer, as it appeared likely that its founder Ramalinga Raju would be arrested.The CB-CID has been asked to probe the fraud disclosed by Satyam founder Ramalinga Raju and they are looking into the matter, Reddy told reporters on the sidelines of second day of seventh edition of Pravasi Bharatiya Divas in Chennai.

Police sources said in Hyderabad that pressure was mounting for suo motu action, although they have not received any formal complaint so far.

If whether the state government was looking to withdraw projects awarded to Raju’s family promoted firm Maytas Infra, Reddy said, “We are valuating it as everything happened in the last two days”.

Source: Rediff