Ramalinga Raju Granted Bail

Mar 14, 2011, 02:40 IST

Founder and ex-chairman of Satyam Computer Services Ltd, B Ramalinga Raju was granted bail after 20 months of his arrest on 18 August 2010.

Founder and ex-chairman of Satyam Computer Services Ltd, B Ramalinga Raju was granted bail after 20 months of his arrest on 18 August 2010. Raju who was a prime accused in the Rs 7,136-crore financial fraud case that made news in January 2009 was granted bail by Justice Raja Elango of Andhra Pradesh High Court. The court had earlier granted bail to five other accused involved in the case including Satyam's ex-CFO, V Srinivas, and former MD, B Rama Raju. However, according to V.V. Lakshmi Narayana, DIG, Central Bureau of Investigation (CBI), CBI would appeal against the Raju’s bail in the Supreme Court.

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