Raju's bail petition to be heard today

Three pleas relating to Satyam Computer Services founder B Ramalinga Raju, his brother B Rama Raju and the company's Chief Financial Officer Vadlamani Srinivas came for hearing before the Metropolitan Magistrate in Hyderabad.

Securities and Exchange Board of India (Sebi) filed a plea seeking the court's permission to question Ramalinga Raju. Sebi is represented by its advocate Bal Reddy and others. Ramalinga Raju's advocate argued that Sebi chairman did not issue any summons to his client.

"In what capacity did Sebi General Manager A Sunil Kumar issued summons to Raju," he questioned.

The counsel members of the regulatory authority on Thursday remarked that their investigations into the Satyam scandal were being hampered as it was finding it difficult to obtain a court orders each time they want to question the Raju brothers.

In the second plea, the police had sought custody of the Raju brothers for investigation. This is represented by the CID advocate and by four advocates Nalin Kumar, Padmanabha Reddy, Prakash Reddy and SR Ashok on behalf of Satyam.

Earlier, the counsel for Satyam had moved a bail petition on January 12 but the court denied it and said it would hear the plea again on January 16.

Meanwhile, Satyam Computer Services today dismissed some media reports that the top management of the company had fled the country to avoid questioning by various authorities.

In a statement issued today, it said that Keshab Panda, one of its top executive, is very much in India while two others Ram Mynampati and Virender Aggarwal have gone back to the US and Singapore, respectively, where they are based.

Satyam generated 97 per cent of its revenues from outside the US and these executives are interacting with the clients for winning back their confidence and continuing its services. Many clients have expressed their intentions for continuing with Satyam. The executives are in touch with Satyam's board of directors and are available to investigating authorities.

"Satyam is cooperating with all investigations,'' the release said.