Satyam case: Court rejects pleas of Raju, others
Hyderabad, Apr 20: A local court rejected as non-maintainable the appeals filed by Satyam scam kingpin B Ramalinga Raju and others challenging a special court's verdict that found him and nine others guilty in the multi-crore rupee accounting fraud in erstwhile Satyam Computer Services Ltd (SCSL).
The appeals were filed by Raju and others last week in the court of metropolitan sessions judge (MSJ) here requesting setting aside of the special court's judgement and also sought bail. [Satyam fraud: All 10 accused found guilty]
After arguments, the MSJ court had reserved its order for Monday on deciding the maintainability of appeals of these cases (whether they should be heard before it or high court) and subsequently returned the appeals as non-maintainable.
Following the order, Raju and others are likely to move the high court. [What crumbled down the Satyam Empire? Arrogance or foolhardiness]
On April 9, the special court, trying the SCSL accounting fraud, had sentenced Raju and others to seven years rigorous imprisonment after it found them guilty of criminal conspiracy and cheating among other offences in the scam and also imposed a Rs 5.5-crore fine on Raju and his brother Rama Raju.
The special court, set up under PMLA Act and the designated as sessions court had also informed the convicts about their right to file appeal against its judgement, who are now lodged in Cherlapally Central Prison here. [Rewinding Satyam fraud case: Timeline]