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Ramalinga Raju, others may file bail petition: Satyam scam
August, 01st 2011

BRamalinga Raju and six other accused in the multi-crore-rupeeSatyam Computer accounting scam may on Monday file a petition seeking bail in a local court, sources said.

While cancelling the bail granted to Raju, the prime accused in the case, the Supreme Court on October 26 directed the accused that they may file bail application only after July 31 if the trial in the local court is not completed by then.

"We may move the XXIACMM court tomorrow (Monday) with a bail petition as the trial has not been completed by July 31. Currently cross examination of witnesses is going on," a source said.

When contacted, Bharat Kumar, legal advisor to Raju refused to comment on the subject.

It is, however, not clear whether all the eight accused who are currently lodged in Chanchalguda prison will file the bail petition tomorrow.

"For strategic reasons all the accused may not file bail petitions tomorrow," a legal expert said.

While T Srinivas, former auditor of Pricewaterhouse was granted bail by the Supreme Court, B Suryanarayana Raju, brother of Raju was granted bail by the local court in the initial days of the case.

P Rabhakar Gupta's bail petition is still pending in theAndhra Pradesh High Court and may come up for hearing tomorrow. Raju, former chairman of Satyam Computers on November 10 surrendered before the local court which has been trying the nation's biggest corporate fraud allegedly to the tune of Rs 14,000 crore.

The high court on August 18 had granted bail to Raju, his brother Rama Raju, former Satyam CFO V Srinivas and three other former IT company employees G Ramakrishna, Venkatapathi Raju and Srisailam.

However, theCBI approached the apex court with a request to cancel the bail.

 
 
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