Raju brothers to be produced before court within 24 hours: Police

HYDERABAD: The tainted founder of Satyam B Ramalingam Raju and his brother Rama Raju will be produced before the court within 24 hours, a top police official said.  "Both are in our custody... a case has been registered and we will produce them before the court within 24 hours," Director CB-CID V S Kaumudi told reporters outside the Director General of Police's office.  Kaumudi said they would seek police custody of the brothers when they are produced before the court tomorrow. He said they were arrested on the bases of a complaint filed by an investor. Kaumudi said they came to the DGP'S office and they have been arrested in connection with the business of the Satyam Computers.  "They are now in CID custody and they will be produced before the court sometime tomorrow," he said.  Mr Ramalinga Raju, Satyam's disgraced chairman, along with former MD Mr Rama Raju, was arrested late Friday night, two days after he confessed to perpetrating a Rs 7,000-crore financial fraud.  The CID had registered a case against Mr Raju based on his confessional letter to the Satyam board and SEBI. The Raju brothers have been booked for criminal breach of trust, cheating, criminal conspiracy and forgery under the Indian Penal Code.  Late night meetings were still on at the government level to finalise a new board for Satyam. Names doing the rounds include former Nasscom president Kiran Karnik, former SEBI chairman M Damodaran, former MphasiS chief Jerry Rao and angel investor Saurabh Srivastava.  With the government's decision on Friday, the board meeting of Satyam scheduled for Saturday will not take place. As per law, the new board will hold its first meeting within seven days, the minister added. The government's decision came as it was concerned about the future of the company and its stake holders including employees