Hyderabad, February 20: Justice P Swaroop Reddy of the High Court on Thursday dismissed the bail application made by B Ramalinga Raju, the former CEO of Satyam Computers Limited. Raju had moved the court for bail citing health grounds.
C Padmanabha Reddy, counsel for the petitioner said that the Central Bureau of Investigation could not prove anything other than what Raju had confessed earlier.
The petitioner asserted that he alone should not be held responsible for the crash in the prices of the shares of the company since he had not asked anyone to buy the shares of his company.
T Niranjan Reddy, counsel for the CBI, said a lot of time would be needed to file a chargesheet in a case of that kind.
–Agencies