Satyam case: CBI moves SC to cancel Raju's bail | business | Hindustan Times
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Satyam case: CBI moves SC to cancel Raju's bail

The CBI on Monday moved the Supreme Court seeking cancellation of bail granted to Satyam Computer's founder, B. Ramalinga Raju, in the R14,000 crore scam.

business Updated: Sep 13, 2010 21:46 IST
HT Correspondent

The CBI on Monday moved the Supreme Court seeking cancellation of bail granted to Satyam Computer's founder, B. Ramalinga Raju, in the R14,000 crore scam.

The Andhra Pradesh High Court had on August 18 freed Raju on bail. He was directed to furnish two personal bonds of R20 lakh each.

CBI has appealed against the high court order claiming Raju, who was the company's chairman, may influence the witnesses, as most of them are his former employees.

The high court had allowed Raju's bail plea after observing that all the other accused including his brother, Rama Raju, former chief financial officer of Satyam, V. Srinivas and three former company employees, G. Ramakrishna, Venkatapathi Raju and Srisailam were already on bail. CBI has already moved the apex court seeking cancellation of the bail granted to Rama Raju, Srinivas, Ramakrishna, Venkatapathi and Srisailam.

The Supreme Court has also granted bail to Satyam's auditor, T. Srinivas.

CBI contended in its appeal: " … parity can not be claimed by the respondent (Raju) that he is on par with T. Srinivas, who was granted bail by the Supreme Court on February 4, 2010. Parity could be claimed only if the roles of two persons (Raju and Srinivas) are similar or identical."

The petition filed by advocate Arvind K. Sharma submitted that the roles of Srinivas and Raju was quite different in the scam and the latter could not be granted bail on that criteria.

Over Raju's health the CBI claimed "his condition is improving" and "he was showing positive response to the treatment." It, therefore, added Raju's bail should be cancelled.

Raju was arrested on January 9 last year and is currently undergoing treatment for liver infection at Nizam Institute of Medical Sciences in Andhra Pradesh.