Satyam fraud case shifts to CBI-designated court

With CBI taking over the investigation into the Satyam scam, the process of transfer of the case from the VI Additional Chief Metropolitan Magistrate Court to the XIV Additional Chief Metropolitan Magistrate Court began here today.

The XIV Additional Chief Metropolitan Magistrate Court, which is the designated court for CBI cases, will now hear the case pertaining to Rs 7,800-crore financial fraud in Satyam Computer, engineered by Satyam's founder B Ramalinga Raju.

The Andhra Pradesh CID, which has till now investigated the case, arrested B Ramalinga Raju and his brother Rama Raju on January 9 and later also took into custody Satyam's former CFO Vadlamani Srinivas, SRSR General Manager Gopalakrishnan Raju, and suspended partners of Price Waterhouse S Gopalakrishnan and Talluri Srinivas.

While Gopalakrishnan Raju of SRSR is out on a conditional bail, the remaining accused are in judicial remand till March 7 after their bail pleas were rejected by the court.

The CBI has formed a team of 23 investigation officers and has a three-member legal team of public prosecutors, who will henceforth handle the case.

Public Prosecutor K Ajay Kumar, who argued against Satyam at the VI Additional Chief Metropolitan Magistrate's court, confirmed start of the process for transfer of the case.