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Andhra Pradesh HC stays Enforcement Directorate order in Satyam case

Tuesday, 11 December 2012 - 12:21pm IST | Place: Hyderabad | Agency: PTI
The Enforcement Directorate had on October 18 issued a provisional attachment order of the company's fixed deposits of Rs822 crore in the money laundering case related to the previous management.

The Andhra Pradesh high court has stayed a provisional order of Enforcement Directorate attaching Rs822 crore deposit belonging to Mahindra Satyam in a money laundering case involving former Satyam chairman B Ramalinga Raju and others.

Justice PV Sanjay Kumar also stayed the notice issued by the adjudicating authority to Mahindra Satyam (Satyam Computer Services Ltd), asking company officials to appear before it with regard to the case.

The Enforcement Directorate had on October 18 issued a provisional attachment order of the company's fixed deposits of Rs822 crore in the money laundering case related to the previous management.


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