Notice to Satyam ex-chief on CBI’s plea to scrap bail
By IANSFriday, October 1, 2010
NEW DELHI - The Supreme Court Friday sought Satyam Computer Services Ltd (SCS) ex-chairman B. Ramalinga Raju’s response on a petition by the Central Bureau of Investigation (CBI) seeking cancellation of his bail granted by Andhra Pradesh High Court.
A bench of Justice Dalveer Bhandari and Justice Deepak Verma issued the notice after it was told that the high court had erred on several counts in granting bail to Ramalinga Raju who was accused in a conspiracy of serious and grave nature involving fudging and manipulating Satyam’s accounts.
In its petition, the CBI said that Ramalinga Rajus release on bail at this stage of trial would lead to miscarriage of justice.
The petition said that the high court had misread the apex court ruling on granting bail to an accused on the grounds of period of detention and the remote possibility of conclusion of trial.
In this case, the trial court is already framing the charges, it said.
Ramalinga Raju and other co-accused including his brother Rama Raju are accused of fudging Satyam’s accounts and records and manipulating the bank statements, fixed deposits receipts, the liquidity status of the company and other documents relating to the company’s finances.
