HC grants bail to Rama Raju, 4 others in Satyam case

The Andhra Pradesh High Court on Tuesday granted bail to Satyam’s former managing director B Rama Raju, former chief financial officer Srinivas Vadlamani and three others accused in the multi-crore financial scam at Satyam Computer Services Limited.

However, prime accused and founder chairman of the company, B Ramalinga Raju, who is being treated at Nizam’s Institute of Medical Sciences (Nims), has not been granted bail.

Justice Raja Elango also granted bail to vice-president (accounts) G Ramakrishna, senior manager (accounts) D Venkatapathi Raju and assistant manager (accounts) Ch Srisailam. With this, nine of the 10 accused, against whom the Central Bureau of Investigation (CBI) had filed chargesheets, have secured bail.

Earlier, Price Waterhouse auditors S Gopalakrishnan and Srinivas Talluri, Satyam internal auditor Prabhakara Gupta and B Surayanarayana Raju (Ramalinga Raju’s brother) were granted bail.

Meanwhile, the special court dealing with the Satyam fraud case today posted the matter relating to the affidavit filed by Ramalinga Raju to July 21. Raju had stated in the affidavit last week that he would accept the questionnaire without prejudice to his right to question the validity of such a procedure in future.