AP HC grants bail to all but former chief | india | Hindustan Times
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AP HC grants bail to all but former chief

india Updated: Jul 21, 2010 12:34 IST
HT Correspondent
HT Correspondent
Hindustan Times
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The Andhra Pradesh High Court on Tuesday granted bail to five former Satyam Computer executives, including the brother of former chairman B Ramalinga Raju.

All accused in the case have now got bail except Ramalinga Raju, whose petition was rejected last month.

Ex-managing director B Rama Raju, ex-chief financial officer Vadlamani Srinivas and their three former colleagues were implicated in the Rs 14,000-crore fraud in January 2009 when Ramalinga Raju, the chief architect of the scam, confessed to diverting Satyam funds to two family-run firms - Maytas Properties and Maytas Infrastructure.

A CBI investigation is on.

On June 25, former PricewaterhouseCoopers auditors S Gopalakrishnana and Prabhakara Gupta, who were arrested last year, also got bail.

The court granted bail despite Solicitor General of India Gopal Subrahmaniam advising it not to for fear the accused may tamper with evidence.

Last year, Tech Mahindra took over Satyam Computer, subsequently renaming it Mahindra Satyam.