Friday, 4 November 2011

Satyam Scam - Bail for Rama Raju , Vadlamani Srinivas and Another


B. Ramalinga Raju, chairman of the  Satyam Computers Services Ltd. his brother,Rama Raju  and the former Chief Financial Officer of the company, Vadlamani Srinivas, were granted bail on Friday by the Supreme Court.

Along with Raju brothers, a Bench of Justices Dalveer Bhandari and Dipak Misra also granted bail to Satyam's former Chief Financial Officer Vadlamani
Srinivas on a personal bond of Rs 2 lakh each with two sureties of same amount.

The court also allowed CBI to approach it for modification of its bail order in case the accused were found misusing their freedom granted by it. While
passing the order, the court took into account the fact that the accused have already spent two years and eight months behind bars for their alleged
offences carrying a maximum punishment of seven years.

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