RoC files caveat in high court

The Registrar of Companies (RoC) here has filed a caveat in the Andhra Pradesh High Court with regard to the Company Law Board (CLB) orders restraining former whole-time directors, chairman, the chief financial officer and the company secretary of Satyam Computer Services from selling or mortgaging their assets.

Caveat is a legal warning to a judicial officer to suspend a proceeding until the opposition gets a hearing. RoC sources said the caveat had been filed as a precautionary measure.

The directors under the CLB order are former chairman and founder of Satyam B Ramalinga Raju, erstwhile whole-time directors B Rama Raju and Rammohan Rao Mynampati (who briefly functioned as interim CEO after the January 7 crisis), former chief financial officer Srinivas Vadlamani and Company Secretary GJ Jayaraman.

These five have to submit the details of their bank accounts as well as movable and immovable properties in India and abroad by February 20 this year.