This Article is From Apr 09, 2009

Andhra CM welcomes CBI probe into Satyam

Hyderabad: Andhra Pradesh Chief Minister Y S Rajasekhara Reddy has written to the Prime Minister saying that the state government has no objection to a Central Bureau of Investigation probe into the Satyam fraud case.

",The state government would welcome handing over the Satyam case to the Central Bureau of Investigation,", said Reddy.

The Chief Minister also said that SEBI and Serious Fraud Investigation Office (SIFO) can also coordinate with the state CID in connection with the probe.

Talking about Satyam's former CEO and founder B Ramalinga Raju, Reddy said that Raju's close relatives had facilitated insider trading of shares.

Reddy further said that more than 300 companies have been raised by close relatives of Raju.
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