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Satyam Raju seeks more time to surrender

New Delhi: Scam-tainted Satyam Computer founder B Ramalinga Raju has approached the Supreme Court seeking extension of time beyond November 10 to surrender.

The apex court had earlier cancelled Raju’s bail and directed him to surrender by November 10.

He has moved an application in this regard on account of bad health and ongoing family settlement. His application is not however saying anything on how much time he needs to surrender. He has merely sought reasonable extension.

Raju’s plea would be heard tomorrow by a bench comprising Justices Dalveer Bhandari and Deepak Verma.

Raju in January 2009 had adimitted to dressing up company’s account books for years together, causing a big corporate scam running into thousands of crores of rupees. The case is being investigated by multiple agencies, including the CBI.

On October 26 this year, on CBI’s plea the apex court had cancelled bail granted to Raju, his brother Rama Raju, former Satyam CFO V Srinivas and three other former IT company employees G Ramakrishna, Venkatapathi Raju and Srisailam by the Andhra Pradesh High court after observing that the fraud eroded the “corporate credibility of the nation”.

The high court had on August 18 allowed Raju’s bail on the ground that all other accused in the case, including his brother Rama Raju and others were granted bail by it.

“Ordinarily this Court would be slow in cancelling the bail already granted by the High Court, but in extraordinary facts and circumstances of these cases, we are of the considered view that the impugned orders passed by the High Court granting bail to the respondents, cannot be sustained in law and the same are accordingly set aside,” the apex court had said while canceling Raju’s bail.

Raju was till recently undergoing in-patient treatment for liver infection in a Hyderabad hospital.

“The accused are directed to surrender on or before November 10, otherwise the CBI shall take appropriate steps in accordance with law,” the bench said.

CBI had filed the chargsheet running into over 10,000 pages, naming more than 250 witnesses. Charges have been framed on October, 25 and trial is scheduled to commence with effect from November, 2.

Raju was arrested on January 9 last year, two days after he wrote a letter to the company Board admitting to fudging the company’s books.

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