B. Ramalinga Raju, the founder of Satyam Computers and the prime accused of in the company's multi-million accounting fraud case, was today granted bail by the Supreme Court after he spent twenty months in the jail.
The Apex Court took into account that Mr. Raju has been in captive in the jail for a specific period of time in which the maximum punishment of imprisonment was seven years and he co-operated during the on-going trial of the case after his bail was cancelled in the last year.
A bench comprising of Justices Dalveer Bhandari and Dipak Misra said that depending upon the facts and circumstances of the case, it has consider the totality of circumstances wherein the accused has already undergone an imprisonment of two years and eight months in the jail and therefore they found him apt to be relased on bail.
It asked the CBI court in Hydrebad to expeditiously complete the trial of the case which was scheduled to have been concluded on the July 31st of this year. The court also warned that any attempt by Raju and other accused to influence the trial of the case either directly or indirectly in any matter or manner would confer full liberty to the CBI to approach the Supreme Court for the cancellation of their bail.
During the judicial custody, Raju has also spent four months in hospital owing to his heart ailments. The court also granted bail to B. Ramalinga Raju's brother B Rama Raju and Satym's Former Chief Financial Officer Vadlamani Srinivas. The bail for the three is on a personal bond of Rs. 2 lakh each and two sureties of like amount.
News reported by AR for Newsvision
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