Why Ramalinga Raju is avoiding SEBI questioning?

Why Ramalinga Raju is avoiding SEBI questioning? Here are some of the basic questions:

• Last week SEBI summoned Ramalinga Raju for  questioning – he sent his lawyer instead. Lawyer promised that Ramalinga Raju will meet then next day at 4.00 PM.
• Next day instead of meeting SEBI – Ramalinga Raju headed for Police Head Quarters to surrender. Later he was arrested by AP Police. This was clearly obviously to avoid SEBI questioning. He could have surrendered after meeting SEBI.
• SEBI when asked AP Police to question Ramalinga Raju – they said Raju is in judicial custody and SEBI should ask court.
• Sebi has filed a petition seeking the court’s nod for interrogating Raju and the two others while they are in judicial custody, but Raju’s lawyer sought a day’s time to file a counter petition. Following this, the court posted the matter for hearing on January 16 (as there are holidays now).

Why Ramalinga Raju is avoiding SEBI?

• Is he waiting for a better period – as the dates after 14th (Pongal) are considered better in AP?
• Is he waiting to know how much SEBI knows to prepare his reply? If yes there are there people in establishment who will pass on information?
• Is he afraid that SEBI may file a case in Mumbai – where it will be difficult to manage the case. Raju (and people behind him) will be more confortable in a case in Hyderabad. Obviously if the case goes out of Hyderabad many others apart from Raju will be unconfortable.

Unanswered questions

• Why did AP Police arrest him despite knowing that he ie required by SEBI?
• Why not much information is available on people who have filed the case against Raju?
• Questions are whether establishment is providing support to Ramalinga Raju and others?
• The Securities and Exchange Board chairman, C B Bhave, had started a series of meetings in New Delhi from Saturday when he met Corporate Affairs Minister Prem Chand Gupta and his Secretary Anurag Goel. Why did SEBI chief met Prime Minister today?
• Why AP chief minister YS Rajasekahr Readdy has stopped stressing on a CBI probe and instead just relied on a probe by state CB CID?

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