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Satyam case: CBI seeks time till Sep 30 to present case

The Supreme Court will Monday hear an application filed by the Central Bureau of Investigation seeking time till Sep 30 to present its case in the accounting fraud related to the erstwhile Satyam Computers Services Ltd.

The plea is listed among the cases to come up before the bench of Justice Dalveer Bhandari and Justice Deepak Verma.

The apex court by its order of Oct 26, 2010, had directed the trial court to ‘take up the (hearing of the) case on day-to-day basis and conclude the trial of this case as expeditiously as possible, in any event, on or before July 31, 2011′.

The court passed this order while cancelling the bail pleas of Satyam’s erstwhile owner Ramalinga Raju, his brother and four other senior officials of the firm who are facing prosecution for fudging the company’s accounts and showing inflated profits which became one of the greatest corporate scams.

The surfacing of the scam and consequent collapse of the company left lakhs of shareholders and others duped.

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