Satyam Rajus bail plea dismissedJanuary 28th, 2009 - 5:39 pm ICT by IANS
Hyderabad, Jan 28 (IANS) A court here Wednesday dismissed the appeal of Satyam Computer Services disgraced founder B. Ramalinga Raju, his brother B. Rama Raju and the company’s former chief financial officer Vadlamani Srinivas for bail in the Rs.70 billion (7,000 crore) fraud case.S. Bharat Kumar, lawyer for the Rajus, said his clients have the option to move the same court again for bail or appeal to a higher court.
“We will take a decision in the next two days,” he said after the sixth additional chief metropolitan magistrate D. Ramakrishna rejected the bail plea.
The three have been in judicial custody which expires Jan 31.
Ramakrishna reserved for Thursday orders on the police appeal for custody of Gopalakrishna Raju, former general manager of SRSR Advisory Services floated by the Raju family to manage their stake in Satyam.
He will also rule Thursday on Gopalakrishna Raju’s bail plea.
Ramalinga Raju was arrested Jan 9, two days after he confessed to the country’s biggest corporate scam of Rs.70 billion. His brother Rama Raju who was managing director of Satyam was also arrested the same day.
Vadlamani Srinivas was picked up two days later.
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- CBI plea against Ramalinga Raju's bail to be heard Monday - Aug 29, 2010
- Raju, others denied bail in Satyam scam - Aug 04, 2011
- Satyam Raju bought lands abroad as well: prosecution - Jan 23, 2009
- Raju brothers bail plea to be heard Monday (lead) - Jan 16, 2009
- Rajus sent back to jail, SEBI plea dismissed (Roundup) - Jan 23, 2009
- Decision on Rajus' bail plea on Wednesday - Jan 27, 2009
- Gopalakrishna Raju sent to police custody for two days - Jan 29, 2009
- Satyam case: Apex court notice to CBI on Raju's bail plea (Second Lead) - Oct 21, 2011
- Satyam case: no bail for Raju, seven others - Aug 30, 2011
- Supreme Court cancels bail of Raju, five others (Second Lead) - Oct 26, 2010
- Satyam's Ramalinga Raju, two others get bail - Nov 04, 2011
- Satyam Raju's brother fails to get anticipatory bail - Feb 13, 2009
- Satyam's Raju brothers, former CFO in police custody for four days (Lead) - Jan 17, 2009