Press Trust of India / Hyderabad Feb 19, 2010, 20:27 IST
Andhra Pradesh High Court today rejected the bail plea of Satyam Computer founder B Ramalinga Raju, the prime accused in the multi-crore financial fraud in the IT firm.
The bail plea of Senior Vice President-cum-Global Head of Internal Audit Cell in Mahindra Satyam, V S Prabhakar Gupta, was also rejected by Justice P Swarup Reddy.
Gupta, who held the same position in the Satyam Computer Services, was arrested on November 21 on charges of falsifying accounts and conspiring with other accused in the case.
In his bail application, Ramalinga Raju said the entire investigations in the Satyam case has been completed and that chargesheets were also filed.
As the chargesheet contains thousands of documents, he is not able to go through it and unable to meet his counsels to prepare for his defence due to his ill-health, Raju informed the court through his counsel.
Gupta also made a similar request to the court.
However, the CBI informed the High Court that granting of bail to the duo would hamper its investigation as it was awaiting additional reports from the courts in the UK, the US and some European countries on diversion of funds by the accused.
The judge later rejected the duo's contention and observed that in view of the objection raised by the CBI and also considering the nature of the scam, he is not prepared to enlarge the petitioners on bail.
Ramalinga Raju was arrested in January last year after his admission of accounting fraud and since then he was in jail. Currently, he is undergoing treatment for his ailment at NIMS hospital here.
People like RAJU from SATYAM is the " UNFORTUNATE " part of the Country. A robber who would do crime for a time for the survival of his family would be behind bars by the Justice System, but a " LOOTER " and " FRAUD " of billions of Rs who ruins 1000's of people's bread and butter would have a team of Politicians, Lawyers, Officials, Doctors to protect him from the same Justice System. This Criminals not only does the Mockery of Laws by " SPIT " on it with gulped looted money. India needs to " REVISIT " this laws and all this cases must be on Fast Track Court monitored by Supreme Court. Every Family & Team Members who misguide the Courts to protect this Criminals and enjoying this looted money must also behind bars with the Culprit. PLEASE DO NOT LET THIS CRIMINALS PLAY WITH LAWS, WITH LOOTED PUBLIC MONEY.
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