The Supreme Court on Tuesday cancelled the bails granted to Satyam Computer founder B. Ramalinga Raju, his brother B. Rama Raju and four former employees of the company by the Andhra Pradesh High Court in the R14,000-crore accounting fraud.
The court asked all six accused to surrender by November 8. It directed the special court in Hyderabad to conclude the trial by July 2011.
Describing the case as the biggest scam in the history of India, the bench took note of the fact that it affected a large number of shareholders, banks and financial institutions to reverse the August 18 HC order.
The order came on a petition filed by the Central Bureau of Investigation (CBI) seeking cancellation of the bail granted to the accused by the HC.