The chairman of India's embattled Satyam Computer has been asked to appear before Securities and Exchange Board of India (SEBI), the market regulator, on Saturday, his lawyer said on Friday, as the outsourcer battles a massive accounting fraud.
Stand-in CEO Ram Mynampati has said the New York-listed company faces a crisis following chairman and founder Ramalinga Raju's admission on Wednesday of years of accounting fraud.
A team from SEBI has been going through Satyam's accounts at its headquarters in this southern Indian city for the last couple of days.
S. Bharat Kumar, Raju's lawyer, told Reuters Satyam's chairman has been asked to appear before the SEBI team at the outsourcer's headquarters at 4 p.m. on Saturday. However he refused to say whether Raju would comply with the request.
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