Bail denied to Satyam’s Raju
A CBI designated trial court here, on Thursday, rejected the bail plea of former Satyam Chief B Ramalinga Raju and six others on the ground that they may influence witnesses and evidence in the multi crore accounting fraud of Rs 14,000 crore as confessed by him.
The CBI counsel K Surender had opposed the bail pleas of the Satyam accused claiming there was no change in circumstances and hence bail was not necessary. He submitted that the petitioners may influence the witnesses and tamper with evidence if released on bail.
The defense counsel for Raju however plans to petition the AP high court for bail later. Ramalinga Raju’s term as an under trial at the Chanchalaguda jail continues since November 2010. But for a considerable period of stay in the super specialty hospital at NIMS for treatment of Hepatitis C, Raju has been interned at city jail where he is given facilities as a B class political detainee of an independent cell with a toilet and also a small kitchenette for himself and his brother.
Along with Raju, his younger brother and former Managing Director of the company B Rama Raju, ex-Satyam CFO Vadlamani Srinivas, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam and former PWC auditor Subramani Gopalakrishnan had also sought bail on the grounds that the trial in Satyam scam was not completed before the stipulated time of July 31, as prescribed the Supreme Court and that all the prosecution witnesses were examined.
Senior advocate E Umamaheshwar Rao and three other counsels, who appeared for Raju, had contended that there were indeed changed circumstances and said their clients, were exercising the right for bail. Seeking Raju’s release on bail, his counsel wanted the court to consider good behaviour of his client and the cooperation he extended during the trial.
