Satyam scam: Hyderabad court grants bail to Raju, 9 others

Hyderabad, may 11: A local court on Monday granted bail to Satyam scam kingpin B Ramalinga Raju, his brother and 9 others in multi-crore rupee accounting fraud in erstwhile Satyam Computer Services Ltd (SCSL).

Reportedly, the Hyderabad court has directed Raju to pay Rs 1 lakh in personal bond and others to Rs 50, 000.

Earlier on Friday, the court had deferred its order on an application filed by Satyam Computers founder B Ramalinga Raju and nine others, seeking suspension of their sentence and fines imposed on them in the multi-crore rupee accounting fraud.

Raju, and nine other convicts, currently lodged in Cherlapally Central Prison, had filed the appeals and applications in the MSJ court on Monday(May 4), challenging their conviction, besides sentences and fines imposed by the Additional Chief Metropolitan Magistrate Court (ACMM) in the over Rs 7,000-crore scandal that came to light in 2009, and enlarging them on bail.

On 9 April, the ACMM court, which tried the Satyam corporate fraud case probed by CBI, sentenced Raju and others to seven years' rigorous imprisonment for criminal conspiracy and cheating, among other offences.

It had also imposed Rs 5.35 crore fine on Raju and his brother Rama Raju while others were fined Rs 25 lakh each.

OneIndia News

(with inputs from PTI)