Gopalakrishna Raju sent to police custody for two days

January 29th, 2009 - 10:24 pm ICT by IANS  

Ramalinga RajuHyderabad, Jan 29 (IANS) A city court Thursday dismissed the bail petition of Gopalakrishna Raju, an accused in the Satyam fraud, and sent him to police custody for two days.Gopalakrishna Raju is the general manager of SRSR Advisory Services floated by the family of disgraced founder and former chairman of Satyam Computer Services B. Ramalinga Raju to manage their stake in Satyam.

The Crime Investigation Department (CID) of the Andhra Pradesh Police, which is investigating the Rs.70 billion fraud, had sought Gopalakrishna’s custody for seven days but Sixth Additional Chief Metropolitan Magistrate D. Ramakrishna gave his custody for two days.

The magistrate said the accused would be in CID custody from 10 a.m. Friday till 4 p.m. Saturday.

Gopalakrishna Raju, arrested last week, also faces charges of destroying the evidence at the instance of Ramalinga Raju and other accused.

The public prosecutor told the court that his custodial interrogation would help investigators in digging out more truth in the case.

Earlier, the magistrate reserved orders on the bail petitions of S. Gopalakrishnan and Srinivas Talluri, the former partners of Price Waterhouse, the firm that audited the accounts of Satyam. The orders will be pronounced Feb 2.

Price Waterhouse, the Indian arm of the global auditing firm PricewaterhouseCoopers, Tuesday suspended the two auditors.

CID had arrested the duo Jan 23 for their alleged complicity in the fraud. The next day they were produced before the magistrate, who remanded them to judicial custody till Feb 6.

The court had Wednesday dismissed bail petitions of Ramalinga Raju, his brother and former managing director of Satyam B. Rama Raju, and former chief financial officer Vadlamani Srinivas. The trio are in judicial custody till Jan 31 and are lodged in Chanchalguda central jail here.

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