Satyam’s lead scamster get bail finally

At last, the main accused in the infamous multi-crore accounting scam in the Satyam Computers, Byrraju Ramalinga Raju, was granted bail by the High Court on August 18 2010.

While granting conditional bail to Ramalinga Raju, the High Court has rejected the petition of the Central Bureau of Investigation against granting bail for some more time. Granting bail against a surety for Rs. 20 lakhs, the Court ordered the accused to appear before the CBI whenever the investigating officers called him for interrogation.

The court ruling caused a setback to the CBI’s efforts to nail Ramalinga Raju in the biggest corporate scam of the country. However, the CBI said that it would decide on going to Supreme Court against the High Court ruling. The CBI has argued that if Raju was let out on bail he might influence the key witnesses and tamper with evidence.

It may be mentioned here that on July 20, the High Court had granted bail to five accused including Ramalinga Raju’s brother B Rama Raju and former Chief Financial Officer of Satyam Computers Vadlamani Srinivas. Except Ramalinga Raju, all the remaining nine accused in the case had been granted bail from various courts on different occasions.

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