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Govt sacks Satyam’s board, Raju is arrested

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    • ENS Economic Bureau Tags : satyan scandal, raju, arrested Posted: Saturday , Jan 10, 2009 at 0305 hrs

    Satyam’s new board will decide on the new management of the company, the minister said. “The Government has decided to approach the Company Law Board to ensure that the operations of the company continue uninterrupted.”

    There was, however, no decision yet by the Government to take over Satyam’s management, Gupta said.

    Raju will appear before a Securities and Exchange Board of India (SEBI) probe team at 4 pm tomorrow to answer questions on the sale and purchase of Satyam shares during 2004 and 2009. His counsel Bharat Kumar appeared before SEBI on behalf of Raju today.

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