Satyam fraud: HC grants bail to Rama Raju, others

Posted By: Samyuktha
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Hyderabad, Jul 20: Andhra Pradesh High Court has granted bail to five key accused in the Satyam accounting fraud case, including B Rama Raju, who is the co-accused and brother of prime accused B Ramalinga Raju.

The High Court on Tuesday, Jul 20 also granted bail to former chief financial officer Vadlamani Srinivas, three other former employees of erstwhile Satyam, G Ramakrishna, Ch Srisailam and Venkatapathi Raju.

Rama Raju was arrested in Jan 2009 after his brother Ramalingam Raju confessed to tailoring the biggest corporate fraud in India.

The multi-billion scam was carried out with the involvement of Satyam top-brass and its auditors, the Central Bureau of Investigation (CBI) sleuths found.

The nod for bail from the High Court came despite the solicitor general of India Gopal Subrahmaniam's argument that if the key accused secure bail, they would try to tamper evidence and influence the witnesses.

Now, with these key accused getting out on bail, only the main architect of the Satyam scam, Ramalinga Raju is behind bars. In Mar 2010, the Supreme Court had rejected the bail plea of the Satyam founder.

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