Satyam case: Hyderabad court dismisses bail plea of Raju brothers, SrinivasFebruary 18th, 2009 - 7:49 pm ICT by ANI
Hyderabad, Feb 18 (ANI): A city court in Hyderabad today dismissed the bail petitions of Satyam founder B Ramalinga Raju, his brother Rama Raju and former CFO V Srinivas, all of them whom are lodged in the Chanchalguda Jail here.
The sixth Additional Chief Metropolitan Magistrate dismissed the bail petitions.
A case has been filed against Raju under Sections 120-B (criminal conspiracy), 406 (criminal breach of trust), 420 (cheating), 468 (forgery for cheating) and 477-a (fraudulent cancellation of securities) of IPC.
Raju had disclosed a financial fraud in the company to the tune of Rs 7,800 crore by inflating profits and showing fictitious assets where none existed.
On Tuesday, Minister of Corporate Affairs Prem Chand Gupta said the government has ordered the Central Bureau of Investigation (CBI) to probe the accounting fraud in IT major Satyam Computer Services Ltd.
“While the Serious Fraud Investigation Office (SFIO) under his ministry had been given three-months to wrap up its probe into the Satyam scam, no time frame has been set for CBI,” Gupta said.
He refused to launch an investigation into accounts of the companies audited by Price Waterhouse, the statutory auditors for Satyam.
Andhra Pradesh Police on Monday issued an order recommending a CBI probe into the scam. (ANI)
- Raju, others denied bail in Satyam scam - Aug 04, 2011
- Multi-dimensional body to probe Satyam fraud: CBI - Feb 19, 2009
- Satyam case: no bail for Raju, seven others - Aug 30, 2011
- Satyam's Ramalinga Raju, two others get bail - Nov 04, 2011
- Andhra High Court adjourns hearing on Raju's bail plea - Aug 05, 2010
- Satyam fraud case: CBI grills Raju for three hours - Oct 05, 2010
- Ramalinga Raju surrenders in court, back in jail (Lead) - Nov 10, 2010
- Former Satyam chief Raju gets bail (Lead) - Aug 18, 2010
- Five accused in Satyam scam get bail (Lead) - Jul 20, 2010
- Supreme Court cancels bail of Raju, five others (Second Lead) - Oct 26, 2010
- Supreme Court cancels bail to Satyam's Raju, asks him to surrender by Nov. 8 - Oct 26, 2010
- Former Satyam chief Raju gets bail (Second Lead) - Aug 18, 2010
- Ramalinga Raju discharged from hospital - Oct 02, 2010
- Satyam scam is of over Rs.14,000 crore, says CBI (Lead) - Nov 24, 2009
- Court reserves verdict on Raju's bail plea - Aug 16, 2010
Tags: accounting fraud, breach of trust, cbi probe, central bureau of investigation, chand, computer services ltd, corporate affairs, criminal breach of trust, criminal conspiracy, crore, fictitious assets, financial fraud, fraud investigation, investigation office, price waterhouse, rama raju, ramalinga, satyam computer services ltd, srinivas, statutory auditors