Satyam case: AP HC dismisses bail pleas of Raju, seven others

Hyderabad, Aug 30 (PTI) The Andhra Pradesh High Court
on Tuesday dismissed the bail petitions of B Ramalinga Raju
and seven other accused in the multi-crore Satyam Computer
accounting fraud.
Justice Samudrala Govindarajulu, who completed the
arguments on the bail petitions on August 27, said all the
bail applications were dismissed.
Of the ten accused in the case, B Suryanarayana Raju, who
is Raju's brother, and T Srinivas, a former auditor of
PricewaterhouseCoopers, had been granted bail by different
courts earlier.
Besides Raju, Satyam's former MD B Rama Raju, ex-CFO
Vadlamani Srinivas, former employees G Ramakrishna, D
Venkatpathi Raju and Ch Srisailam, former PWC auditor
Subramani Gopalakrishnan and Satyam's former internal chief
auditor V S Prabhakar Gupta, are currently lodged in
Chanchalguda Central Prison in Hyderabad.
The accused had sought bail on the grounds that the trial
in the Satyam scam was not completed within the Supreme
Court-stipulated timeline of July 31 and all the prosecution
witnesses were examined.
Earlier, cancelling Raju's bail in October last year, the
Supreme Court had stated that the accused could file another
bail application only after July 31, 2011, if the trial in the
case was not completed in the local court.
Sources close to Raju said he and the other accused may
approach the Supreme Court for bail. They, however, did not
confirm when they are going to file the petition in the apex
court.
Raju, the former chairman and founder of Satyam Computer,
surrendered on November 10 before the local court adjudicating
the nation's biggest corporate fraud, which is allegedly to
the tune of Rs 14,000 crore.