Bail petitions of Raju brothers, Srinivas dismissed | business | Hindustan Times
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Bail petitions of Raju brothers, Srinivas dismissed

A local court in Hyderabad today dismissed the bail petitions of Satyam founder B Ramalinga Raju, his brother and former managing director of the company Rama Raju and former CFO V Srinivas, who are lodged in Chanchalguda Jail.

business Updated: Feb 18, 2009 16:28 IST

A local court on Wednesday dismissed the bail petitions of Satyam founder B Ramalinga Raju, his brother and former managing director of the company Rama Raju and former CFO V Srinivas, who are lodged in Chanchalguda Jail here.

The 6th Additional Chief Metropolitan Magistrate, before which the bail petitions came up dismissed them.

The CID of Andhra Pradesh police arrested Raju brothers and Srinivas following the Ramalinga Raju's confession on January 7 that he fudged company's account books and inflated profits, to the tune of Rs 7,800 crore which is termed as corporate India's biggest fraud.

After thier bail petitions were rejected last month, Raju brothers and Srinivas had filed a fresh petitions which were also rejected today.