Hyderabad: Former Satyam Computer Chairman B Ramalinga Raju will appear before a probe team of the Security and Exchange Board of India on Saturday to answer questions on the sale and purchase of company shares during 2004 and 2009, his counsel Bharat Kumar said.
However, SEBI chairman P C Bhave said Government will not file a case against the company till investigation is complete.
Bhave said Raju's letter is not enough to put him in front of magistrate and that SEBI was in touch with US Security Exchange Commission on the issue.
Bharat Kumar appeared before the team of the market regulator at the Satyam office at Madhapur on Friday as Raju did not turn up, citing ill-health.
Raju had sought three days' time to submit the documents sought by SEBI officials, which was denied, Kumar said.
The SEBI team is camping here to probe the Rs 7,800 crore accounting scam in Satyam. They are being assisted by officials of the RoC, Hyderabad.
SEBI summoned Raju to appear before the authority under sections 11 (3) and 11 (C ) of (SEBI) Act 15 of 1992.
Meanwhile, the Andhra Pradesh Police have launched investigations into the Satyam scandal. State Director General of Police SSP Yadav is personally supervising the probe, official sources said.
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