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Court says 'no' to de-freezing Raju sons' bank accounts
PTI
Last Updated IST

After dismissal of their pleas last year, Rama and Teja Raju had last week again sought the court's intervention for de-freezing their saving accounts and the release of a laptop, computer, pen-drives and other items seized after the scam came to light in 2009.

The Additional Chief Metropolitan Magistrate (ACCM) Court allowed the request of Rama Raju seeking the release of a laptop, two pen-drives and a DVD and asked him to execute a personal bond of Rs 50,000 for the same. He was also told to produce these items as and when required in court.

However, it rejected the request for release of the computer, taking into consideration the AP Forensic Science Laboratory's (APFSL) report that they could not analyse the computer with the existing tools and software available with the lab.
"If this item is returned to the petitioner before analysis, there is a likelihood of the computer's data being erased," Magistrate B V L N Chakravarti noted.

Dismissing the petition on de-freezing of accounts, the court upheld the CBI's argument that they have been conducting a further probe regarding the diversion of funds of Satyam Computer through various bank accounts operated in the name of former Chairman Ramalinga Raju and his relatives.

"As rightly argued by the CBI counsel, any order permitting the petitioners to operate their bank accounts will hamper the further investigation regarding diversion of funds by Satyam Computer," the magistrate observed.
The defence counsel had argued that the three saving bank accounts in question were personal and not related with Maytas, a realty firm that was earlier controlled by Raju's family.

The defence counsel had contended the CBI had completed its probe into the Satyam accounting fraud and filed chargesheets, which does not disclose any offence against his clients and their bank accounts.

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(Published 03 September 2010, 17:38 IST)