Satyam founder Raju appeals to Supreme Court for bail
The founder of the scam hit Satyam Computer Services Limited, B Ramalinga Raju has appealed to the Supreme Court for bail on Thursday. Raju is the main accused in financial scam amounting at Rs 7,100 crore that shook the whole IT industry in the country.
Raju is seeking bail on the grounds that the investigation by the CBI is complete and it has submitted the charge sheet and once the investigation is done there is no way for the accuse in tampering the evidence. He has appealed against the Andhra Pradesh High Court that rejected its bail.
He also said that he seeks the bail on medical grounds too as he is in urgent need of medical help for his serious cardiac and other health problems. Raju is suffering from Hepatitis C and is being treated at NIMS. The court has asked NIIMs to submit a status report on him. The hospital submitted a report but court again asked particularly if Raju will be able to appear for the court hearing. In another report NIIMS said that he needs continuous treatment.
He has affirmed that he will abide by all court orders imposed on him for ordering his release from custody.
The Supreme Court recently granted bail to Satyam's auditor T Srinivas on the grounds that the judicial proceedings could take a long time. Raju has also said that his custody is preventing him from preparing a defense case against a very large charge sheet.
The CBI had asked for the hearing to be deferred by three months as it wanted time to write to the authorities in US, UK, Belgium, Singapore, Mauritius and British Virgin Islands asking them to provide information on the activities of the company.
In the mean time the court has extended the judicial remand for all of the 10 accused in the case till March 18.
