Andhra CID goes after Satyam's former bosses

stigations continue into what is corporate India's biggest fraud, the Satyam scam. The CID has raided Satyam's former bosses.

The CID raided Satyam's chief financial officer V Srinivas's residence in Hyderabad. At the same time, this long-time confidant and colleague of Ramalinga Raju was produced before a magistrate and sent to judicial custody till January 23. Raju and his brother Rama Raju have been in Chanchalguda jail since Saturday night.

The 18-member CID team seized a laptop, some files and documents from Srinivas's house. Sources in the CID have told NDTV that some more members of the erstwhile Satyam board will be questioned in the next few days.

Andhra Pradesh Chief Minister Rajasekhara Reddy however said he had no issues if any other agency like the CBI also wanted to investigate the fraud. Reddy, who has known Raju closely, said it was clearly greed and ambition that did him in.

"I could not imagine something like this could have happened, that a person like Raju could be involved in something like this," said Reddy.

Satyam and Maytas have been awarded several contracts by the Andhra Pradesh government - like the Hyderabad Metro Rail, Machilipatnam Port and several irrigation projects. Raju's arrest have brought these high-profile projects under the scanner.