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Satyam's Raju untraceable, Regulator team in Hyderabad

by Sanjay Jha | January 8, 2009 at 01:55 am

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A day after Ram Lingam Raju, the head of Indian outsourcing company Satyam Computer Services resigned owning responsibility for falsely inflated profits for years, there is no trace of him.

The whereabouts of B Ramalinga Raju, who stepped down as Chairman of Satyam Computer after admitting to financial irregularities, were a subject of speculation late tonight.

A Indian TV channel speculated that Raju may have gone to Dubai, but there was no confirmation.

After admitting to committing a Rs 7,000 crore fraud on Wednesday, Raju faces arrest and could serve as many as 7-10 years in jail.

Amid mounting speculation over his whereabouts, Satyam management has said that it has no idea where Raju is.

Sources in the Hyderabad police have said that Raju had left for Texas on Wednesday morning from Hyderabad airport. Raju has not been seen in public ever since his confession, but TV reports suggest that he could have left for Texas.

There is a petition pending over his Maytas deal for which British Telecom's Solutions firm - U-paid had demanded presence of Raju and senior directors of Satyam for questioning by its lawyers.

According to another TV report, Raju could also have left for Dubai, however, there is no confirmation.

Satyam’s former chairman is not reachable on his mobile phone.

Ramalinga Raju on Wednesday admitted to a Rs 7,000-crore fraud in the Hyderabad-based company and revealed that the balance sheet of Satyam had been inflated and that he would subject himself to the laws of the land.