Hyderabad, August 30: The Supreme Court has issued notices to Ramalinga Raju after the CBI approached the apex court challenging the Satyam founder’s release on bail.
The Supreme Court has also served notices to Rama Raju, brother of Ramalinga Raju and former managing director of Satyam, and two other persons.
The Andhra Pradesh High Court on August 18 granted bail to Ramalinga Raju, in a setback to the CBI’s efforts to nail him in the biggest corporate scam of the country.
Ramalinga Raju’s letter of confession on January 7, 2009, brought to light the biggest corporate fraud in Indian history of more than Rs. 7,000 crore. The CBI had argued that if Raju is let out on bail he may influence key witnesses and tamper with evidence. Raju is undergoing treatment for Hepatitis-C at the Nizam’s Institute of Medical Sciences (NIMS) in Hyderabad.
On July 20, the Andhra Pradesh High Court granted bail to five accused, including Raju’s bother, B Rama Raju, and the former CFO of Satyam Computers, Vadlamani Srinivas, in the multi-crore accounting scam.
——-Agencies