Supreme Court has issued notices to Ramalinga Raju
The Supreme Court has issued notices to Ramalinga Raju after the CBI approached the apex court challenging the Satyam founder’s release on bail. The Supreme Court has also served notices to Rama Raju, brother of Ramalinga Raju and former managing director of Satyam, and two other persons.
The Andhra Pradesh high court in July had granted bails to Rama Raju, brother of Satyam founder B Ramalinga Raju, former Satyam CFO V Srinivas and three others former IT company employees G Ramakrishna, Venkatapathi Raju and Ch Srisailam accused in the India’s largest corporate fraud.
Satyam founder Ramalinga Raju, Rama Raju and eight others were arrested last year after Raju admitted to fudging the accounts of the IT company.
On July 20, the Andhra Pradesh High Court granted bail to five accused, including Raju’s bother, B Rama Raju, and the former CFO of Satyam Computers, Vadlamani Srinivas, in the multi-crore accounting scam.