SC grants bail to Satyam Ramalinga Raju
The Supreme Court granted bail to former Satyam CEO B Ramalinga Raju, his brother B Rama Raju and former chief financial officer V Srinivas on Friday. They had been in jail for two years and eight months. They were arrested in connection with the multi-crore accounting fraud involving Satyam.
An apex court bench of Justice Dalveer Bhandari and Justice Dipak Misra said from the facts of the case and considering the totality of the circumstances, it was appropriate to grant them bail.
The SC had on October 12 granted bail to four former Satyam employees accused in the case. They are its former Internal Chief Auditor V S Prabhakar Gupta besides executives G Ramakrishna, D Venkatpathi Raju and Ch Srisailam. The fifth accused, who got the bail, is the former auditor of PriceWaterhouseCoopers (PwC) Subramani Gopalakrishnan.