Jailed erstwhile Satyam Computers Services Ltd founder chairman B. Ramalinga Raju, his brother B. Rama Raju and former chief financial officer V. Srinivas were Friday granted bail by the Supreme Court.
An apex court bench of Justice Dalveer Bhandari and Justice Dipak Misra said from the facts of the case and considering the totality of the circumstances, it was appropriate to grant them bail.
The case revolves around one of corporate India’s biggest frauds, with the accused facing charges of fudging company accounts and showing inflated profits. The surfacing of the scam and consequent collapse of the company left lakhs of shareholders and others in the lurch.
The accused have been in Hyderabad’s Chanchalguda central jail since January 2009, except for a brief period when they were granted bail.(IANS)