Court rejects bail for Raju, seven others in Satyam case

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Old 31-Aug-2011
Court rejects bail for Raju, seven others in Satyam case

Hyderabad: The Andhra Pradesh High Court yesterday dismissed the bail pleas of former chairman of Satyam Computers B. Ramalinga Raju and seven other accused in India's biggest corporate fraud case.

Justice Samudrala Govindarajulu, who had reserved orders on Saturday, rejected all the bail petitions.

B. Ramalinga Raju, his brother and managing director of the company Rama Raju, chief financial officer Srinivas Vadlamani, Satyam's former internal chief auditor V.S. Prabhakar Gupta, former PwC auditor S. Gopalakrishnan and company employees Ch. Srisailam, G. Ramakrishna and B. Venkatapati Raju had moved the high court after their petitions were dismissed by the trial court on August 4.

All the eight accused in the multi-million scam are currently lodged in the Chanchalguda Central Jail in Hyderabad. Two others accused in the case were earlier granted bail.Raju and seven others sought the bail on the ground that the trial was not completed before July 31 as stipulated by the Supreme Court.

The Central Bureau of Investigation (CBI), however, opposed the bail pleas saying if the accused were released on bail there was every possibility that they might try to influence witnesses. The CBI also submitted that it has filed a petition before the Supreme Court seeking extension of time to complete the trial in the case.

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