The Supreme Court Friday issued notice to the Central Bureau of Investigation (CBI) on a bail plea by the accused in one of India’s biggest corporate frauds – erstwhile Satyam Computers Services Ltd founder chairman B. Ramalinga Raju, his brother Rama Raju and former employee V. Srinivas.<\/p>\n
Justice Dalveer Bhandari and Justice Dipak Misra issued the notice.<\/p>\n
The accused are facing prosecution for fudging the company accounts and showing inflated profits.<\/p>\n
Senior counsel Uday Kumar Sagar pleaded that there was no necessity to keep the three petitioners in jail after they have already been in custody for two-and-a-half years.<\/p>\n
The charges levelled against them attract a maximum sentence of seven years if convicted, Sagar told the court.<\/p>\n
The accused would cooperate in the investigation of the case, he added.<\/p>\n
The matter will be heard Nov 3.<\/p>\n
The Supreme Court Wednesday granted bail to four erstwhile Satyam Computers Services Ltd employees and an official of its statutory auditor PricewaterhouseCoopers.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Supreme Court Friday issued notice to the Central Bureau of Investigation (CBI) on a bail plea by the accused in one of India’s biggest corporate frauds – erstwhile Satyam Computers Services Ltd founder chairman B. Ramalinga Raju, his brother Rama Raju and former employee V. Srinivas. Justice Dalveer Bhandari and Justice Dipak Misra issued […]<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1954],"tags":[5613,3079,2530,1614,5609],"class_list":["post-13993","post","type-post","status-publish","format-standard","hentry","category-high-profile-cases","tag-chairman-b-ramalinga-raju","tag-justice-dalveer-bhandari","tag-justice-dipak-misra","tag-satyam-case","tag-supreme-court-notice-to-cbi"],"yoast_head":"\n