Supreme Court granted bail to B. Ramalinga Raju and his brother MD, B. Rama raju in the infamous satyam scam the bail was granted by a bench comprising Justices Dalveer Bhandari and Deepak Misra.  Earlier they have been charged of defrauding the funds and cheating the investor in the company and misrepresenting the figures of the company.

Raju misrepresented the no. of employee in the company along with the turn- over of the company. He was also engaged in transferring capital to his son’s company Maytas, Real Estate Company. As a result he was caught and the shares of the satyam computers went at all time low.  And now it has been taken over by Tech Mahendra.  Earlier, SC rejected the bail plea of Raju, but this time SC granted the bail as according to SC, CBI was not able to conclude the trial within the specified time limit. The argument put by CBI that many delaying tactics were used by the accused was rejected.

Bail granted to Ramalinga Raju in Satyam scam

Report by Abhishek Kumar