Court reserves order on Raju, Srinivas' bail plea

HYDERABAD: A local court today reserved its verdict on the bail plea of founder Chairman of Satyam Computer Services B Ramalinga Raju and its former CFO Vadlamani Srinivas, putting it off for tomorrow.

The two accused in the Rs 7,800-crore fraud in the IT company, were produced before the court of the 6th Additional Chief Metropolitan Magistrate amid tight security.

Meanwhile, the Andhra Pradesh CID has sought police custody of SRSR General Manager Venkata Gopal Krishna Raju, who is now in judicial custody.

Gopal Krishna was arrested on January 22. CID moved the court of Additional Chief Metropolitan Magistrate to secure custody of Gopal Krishna Raju.

SRSR Holding is owned by Ramalinga Raju's sibling, Suryanarayana Raju, whose house was also searched by the police with regard to the Rs 7,800 crore accounting fraud in Satyam.

Satyam founder Ramalinga Raju's family held stake in the IT company through SRSR Holding.

The magistrate also posted the bail petition of PwC executives S Gopalakrishnan and T Srinivas for hearing on January 29.