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Raju, six others move bail pleas

Posted by on August 2, 2011 0 Comment

B. Ramalinga Raju, the former chairman of Satyam Computer Services Ltd, and six others moved bail petitions separately at a Nampally court on Monday. The bail petition were moved as the Supreme Court had observed in its order last year that the accused could move bail petition in a lower court if the trial was not concluded by July 31. Ramalinga Raju moved the bail petition under Section 437 of the CrPC, through his counsel. Others accused in the `14,000 crore accounting fraud — B. Rama Raju, Vadlamani Srinivas, S. Gopala Krishnan, Ramakrishna, Venkatapathi Raju and Ch Srisailam — also moved bail petitions.

Mr Uma Maheswara Rao, the counsel for Ramalinga Raju said in his bail petition that they were moving the same in pursuance of the orders of the Supreme Court in criminal appeal No. 2068-72 of 2010 and No. 2073 of 2010. Admitting the petition, the XXI additional chief metropolitan magistrate, Mr B.V.L.N. Chakravarti, issued notices to the special public prosecutor, CBI, and posted the case to Tuesday for arguments. Meanwhile, the High Court on Monday dismissed the bail petition of Prabhakar Gupta, one of the accused in Satyam case, directing him to move the same in the lower court. Deccan Chronicle

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