SC seeks reply on bail plea from Satyam accused
The Supreme Court, on Monday, sought response from former Satyam Computers Ltd Managing Director B Rama Raju and four others, accused in Rs 14,000-crore accounting fraud in the company, on a petition filed by the Central Bureau of Investigation(CBI) seeking order to cancel their bail.
A bench of Justices Dalveer Bhandari and Deepak Verma issued notice to the accused who had been granted bail by the Andhra Pradesh high court to file their reply in one week. The matter will come up for hearing after two weeks.
The high court in July had granted bail to Raju, the brother of Satyam founder chairman B Ramalinga Raju, its former CFO V Srinivas, G Ramakrishna, Venkatapathi Raju and Ch Srisailam on the ground that there was no possibility of early completion of trial.
Satyam founder Ramalinga Raju, Rama Raju and eight others were arrested in January last year after Raju admitted to fudging the accounts of the IT company to scurry personal gain.
