Local court rejects bail plea of Satyam employees

A local court in Hyderabad dismissed the bail pleas of Venkatpati Raju and Srisailam, both employees of scam-hit Satyam Computer.

A local court in Hyderabad on Tuesday dismissed the bail pleas of Venkatpati Raju and Srisailam, both employees of scam-hit Satyam Computer.

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The IV Additional Metropolitan Sessions judge rejected the bail applications of the duo on the grounds that the CBI has not yet completed its probe. The bail pleas were filed at the sessions court on April 22.

The CBI has got permission from a designated court on April 25 for further investigation into the Satyam fraud case.

This is the second time that their bail applications were rejected. Earlier, the XIV Additional Chief Metropolitan Magistrate had rejected their bail plea on April 18.
Senior Manager (Finance) Venkatpati Raju and Assistant Manager Ch Srisailam were arrested along with Vice-President (Finance) G Ramakrishna on April 5 on charges of involvement in fabricating invoices and bank balance sheets.

The trio are in judicial remand till May 13 with other accused including Satyam Computer founder B Ramalinga Raju.