Only cooked books, did not siphon off money: Raju

Satyam founder B Ramalinga Raju on Wednesday said he never admitted to fraudulently appropriating money from the IT company.

Satyam founder B Ramalinga Raju on Wednesday said he never admitted to fraudulently appropriating money from the IT company.

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Defending the bail granted to him in the Supreme Court, Raju also thanked the government for its efforts in putting the scam-hit firm back on track.

During the proceedings, Raju's counsel, former attorney general and senior advocate Ashok V Desai, submitted that the confessional statement of January 7, 2009, of inflating the account books of Satyam Computers (now Mahindra Satyam) had no link with siphoning off money.

"There is no admission of any siphoning off of money, there is no admission of any guilt, but only of inflating the charts and accounts of the company," he submitted.