Ramalinga Raju gets bail in Satyam Computers scam
Hyderabad: A Nampally court on Monday granted Byrraju Ramalinga Raju, his brother Rama Raju and all other eight convicts in the sensational Satyam Computers accounting scam.
The economic offences court also gave them relief by directing them to pay 10 percent of the hefty cash penalties imposed on them by the trial court. The Raju brothers were fined for over Rs 5 crore each. As per the latest sessions court order of Monday, they will have to pay a little over 50 lakh each within four weeks.
Economic offences court judge Justice Lakshman directed the Raju brothers to furnish Rs 1 lakh each bonds and the others Rs 50,000 each towards surety.
Vadlamani Srinivas, S Gopalakrishnan, B Suryanarayana Raju, Talluri Srinivas, G Ramakrishna, G Venkapatapathi Raju, VSP Gupta and Ch Srisailam are the other eight convicts in the case.
Trial court judge Justice BVLN Chakravarthi had on April 9 named them guilty in the Rs 6800 crore accounting scam that had caused over Rs 14000 crore loss to the shareholders.
Ramalinga Rraju was arrested on January 9, 2009. The trial court on April 9 convicted him and others to seven years rigorous imprisonment.
The economic offences court also gave them relief by directing them to pay 10 percent of the hefty cash penalties imposed on them by the trial court. The Raju brothers were fined for over Rs 5 crore each. As per the latest sessions court order of Monday, they will have to pay a little over 50 lakh each within four weeks.
Economic offences court judge Justice Lakshman directed the Raju brothers to furnish Rs 1 lakh each bonds and the others Rs 50,000 each towards surety.
The Raju brothers and eight others were convicted in the multi-crore accounting scam on April 9. All the convicts are presently lodged at Cherlapalli jail. They challenged the trial court order in the High Court, which advised them to go to the sessions court. They got relief in the sessions court today.
Vadlamani Srinivas, S Gopalakrishnan, B Suryanarayana Raju, Talluri Srinivas, G Ramakrishna, G Venkapatapathi Raju, VSP Gupta and Ch Srisailam are the other eight convicts in the case.
Trial court judge Justice BVLN Chakravarthi had on April 9 named them guilty in the Rs 6800 crore accounting scam that had caused over Rs 14000 crore loss to the shareholders.
Ramalinga Rraju was arrested on January 9, 2009. The trial court on April 9 convicted him and others to seven years rigorous imprisonment.
