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Satyam's Raju applies for bail in Supreme Court
March, 12th 2010

B Ramalinga Raju, who resigned as chairman of Satyam Computer Services Ltd. after being charged for Rs 7,100 crore financial scam, has applied for bail in the Supreme Court.

The apex court may hear Raju's petition today. Satyam's founder is seeking bail on health grounds.

After spending more than a year in prison, Raju on Thursday moved the Supreme Court seeking bail saying the Central Bureau of Investigation (CBI) had completed its investigation and had filed the chargesheet.

Apart from legal grounds, Raju in his bail petition has mentioned that he needs specialised medical help for his serious cardiac and other health problems.

The Andhra Pradesh High Court had on January 18 dismissed a revision petition of Raju and two others, challenging a lower court's order remanding them to police custody.

The magistrate had adjourned hearing on the bail petition of all three accused to Jan 22 and remanded them to judicial custody till January 23.

Raju was Satyam's Chairman until January 7, 2009 when he resigned from the company's board after admitting to corporate fraud. The Andhra Pradesh Police arrested him on January 9 last year.

 
 
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