Hyderabad: Satyam Founder and ex-chairman Ramalinga Raju has reached the CBI court in Hyderabad for questioning.
He was required to appear before the CBI daily as per his bail conditions but was exempted from it as long as he was in hospital. He was released from hospital on Saturday after being treated for Hepatitis C.
CBI had issued a notice to Raju on Monday asking him to appear before it. Raju was discharged from Nizam’s Institute of Medical Sciences on Saturday after receiving treatment for Hepatitis C. He has to appear before the CBI as per the conditions of bail granted earlier by High Court of Andhra Pradesh.
Sources said that the questioning would revolve around the alleged funds diversion to some of the foreign countries from which CBI is awaiting replies.
The restated accounts presented by Mahindra Satyam indicated possible diversion of funds aggregating USD 41 million so far from the proceeds of the ads, which were listed on the NYSE in May 2001.
The forensic audit revealed that diversion of funds possibly include payments to banks worth USD 22 million, payments of USD 9 million to other entities as well as cash outflows to unidentified beneficiaries to the tune of USD 10 million.
Recently, CBI had filed a petition in the Supreme Court seeking cancellation of bail to Raju and nine others. The Apex court subsequently issued notice to Raju to file a reply before October 19.
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