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Bailed Satyam founder Raju makes second appearance before Hyderabad court

By Samyuktha

Hyderabad, Aug.26 (ANI): B.Ramalinga Raju, the key accused in the Satyam fraud case, made a second appearance before a court here on Thursday after being granted bail by the Andhra Pradesh High Court.

Raju, who has been diagnosed with Hepatitis-C, said he was fine for the time being.

"I m fine now , procedure unduly extended. I'm recovering now. Bail is a good relief," said Raju.

Raju was granted bail on August 18 on health grounds, with the high court saying he should not be discharged from the hospital.

Raju has been hospitalised at the Nizam's Institute of Medical Sciences in Hyderabad since September 2009.

"Raju has been given bail on the condition that he will remain in Hyderabad till further orders and will have to give two securities of Rs 20 lakh each. He will have to depose before the investigating officer every day once he has been discharged from NIMS," Raju's lawyer Bharat Kumar said.

The Central Bureau of Investigation (CBI), which has been investigating the case, has decided to approach the Supreme Court against Raju's bail order.

It has alleged that doctors have been prolonging Raju's treatment to delay his trial in connection with the Satyam case.

Raju has been charged under various sections of the Indian Penal Code including Section 120B for criminal conspiracy, under Section 409 for breach of trust, under Section 420 for cheating, and under Section 468 and Section 471 for forgery.

Raju, Satyam founder and former chairman, resigned from the company after confessing to country's biggest financial fraud of Rs 14,000 crore and disclosing massive financial irregularities in January 2009.

Raju and his brother Rama Raju were arrested by the Andhra police on January 9, 2010. Nine other accused, including top company officials and auditors, were also arrested in the case. (ANI)

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