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Satyam’s Ramalinga Raju secures bail

Hyderabad: Satyam Computer’s tainted founder B Ramalinga Raju secured bail from the Andhra Pradesh High Court, over 17 months after his arrest on charges of allegedly fudging the IT company’s accounts.

Raju, who was arrested on January 7 last year and is currently undergoing treatment in a city hospital, was granted bail on the condition he stay in Hyderabad and on provision of two sureties of Rs 20 lakhs each.

Justice Raja Elango granted the bail to the former chairman of Satyam Computer, which has since been taken over by Mahindra group and renamed Mahindra Satyam, even as the CBI said he could influence witnesses numbering 250 if let out.

With Ramalinga Raju getting bail, all the 10 accused in the Rs 14,000 crore Satyam accounting fraud case have been granted bail by various courts.

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