SC issues notices former Satyam Raju, 4 others

Tags: Satyam, News
The Supreme Court on Monday asked former Satyam managing director B Rama Raju and four others, accused in Rs14,000-crore accounting fraud in Satyam, as to why their bails should not be cancelled.

The Supreme Court bench comprising Justice Deepak Verma and Justice Dalbeer Bhandari issued notices to the five accused on a petition filed by CBI.

The Andhra Pradesh high court in July had granted bails to Rama Raju, brother of Satyam founder B Ramalinga Raju, former Satyam CFO V Srinivas and three others former IT company employees G Ramakrishna, Venkatapathi Raju and Ch Srisailam accused in the India’s largest corporate fraud.

Satyam founder Ramalinga Raju, Rama Raju and eight others were arrested last year after Raju admitted to fudging the accounts of the IT company.

Solicitor General Gopal Subramanium appearing for CBI submitted before the court that these are the persons who have recruited some of the key witnesses in Satyam and may alter the evidences.

The Supreme Court asked the five accused to reply within a week.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

FC NEWSLETTER

Stay informed on our latest news!

EDITORIAL OF THE DAY

  • Retail investors need to be drawn to bond trading

    A country requires both a healthy capital market and a liquid debt market for vibrant economic growth. India has had the first for a long time.

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Japan’s living national treasures

While the world is fascinated by the economic “miracles” in ...

Robert Clements

Cherish good times and accept bad ones

Initially, I was angry and confused, I was even repentant…,” ...

Bubbles Sabharwal

Mothers just see things differently; they can’t help it

Before we begin on mothers, I have to share this ...