Raju and the law: Steps and mis-steps
Hyderabad (PTI): By giving himself over to the police, Satyam Computer's former Chairman B Ramalinga Raju may have pre-empted an extradition to the US, where several law suits have been filed against him, says a section of legal experts.
However, the decision to stay away from the SEBI authorities and send his lawyer instead may create more problems for B Ramalinga Raju, including a one-year jail term and a fine of Rs one crore. SEBI summoned Ramalinga Raju to appear in person before its investigating officials and present the records related to the Satyam scandal.
"His lawyer can appear only before the Appellate Tribunal and not the investigating authorities," they added.
Had he appeared before the SEBI investigating team, Raju would have escaped arrest because the SEBI Act has no provision to nab a person. But, Raju chose to get "arrested" by the police and charged under various provisions of the Indian Penal Code in what is being described by legal luminaries as "legal match-fixing."
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