SC cancels bail granted to Ramalinga Raju, others

New Delhi, Oct 26: On a Central Bureau of Investigation (CBI) plea, the Supreme Court on Tuesday, Oct 26 cancelled the bail granted by the Andhra Pradesh High Court to six Satyam scam accused, including B Ramalinga Raju.

Besides cancelling the bail, the apex court has directed the six accused, namely Satyam Computer founder B Ramalinga Raju, his brother B Rama Raju, former CFO V Srinivas, abnd ex-employees of the IT firm G Ramakrishna, Venkatapathi Raju and Ch Srisailam to surrender by Nov 8.

Supreme Court bench comprising Justices Dalveer Bhandari and Deepak Verma said that the HC bail can not be sustained, besides observing that the case involved the biggest scam India has never seen as it affected large number of shareholders, banks and financial institutions.

OneIndia News