B. Ramalinga Raju, former chairman of Satyam, gets a bail in the huge corporate scam from the Andhra Pradesh High Court on Wednesday.


Ramalinga Raju Gets Bail In Satyam Corporate Scam
Last Updated: 2010-08-18T16:56:29+05:30
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Ramalinga Raju
B. Ramalinga Raju, former chairman of Satyam, gets a bail in the huge corporate scam from the Andhra Pradesh High Court on Wednesday.
 
He has been asked to provide two securities of Rs. 20 lakh each by the court. The court has granted bail to him on health grounds.
 
"Raju has been given bail on the condition that he will remain in Hyderabad till further orders and will have to give two securities of Rs 20 lakh each. He will have to depose before the investigating officer every day once he has been discharged from NIMS," Raju's lawyer Bharat Kumar was quoted as saying.
 
Raju was taking treatment from Nizam's Institute of Medical Sciences, Hyderabad for Hepatitis C.
 
Meanwhile, the Central Bureau of Investigation (CBI) has planned to approach the Supreme Court against this bail order.
 
India’s biggest multi-crore corporate scam came into light when Raju admitted about the financial irregularities in January 2009. He had been charged with criminal conspiracy, breach of trust, cheating and forgery under various sections. Satyam was later acquired by Tech Mahindra Ltd.

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