Satym fraud: Raju and four others withdraw bail petitions
B Ramalinga Raju, the disgraced founder of Satyam Computer Services, and four other accused in the fraud at the IT firm, withdrew their bail petitions from a lower court on Monday, fearing a denial.
By ET Bureau |
HYDERABAD: B Ramalinga Raju, the disgraced founder of Satyam Computer Services, and four other accused in the fraud at the IT firm, withdrew their bail petitions from a lower court on Monday, fearing a denial here.
Apart from Ramalinga Raju bail applications were withdrawn by his brother B Rama Raju,former CFO Srinivas Vadhlamani and PW auditors S Gopalakrishnan and Srinivas Talluri.
The five accused are now likely to apply fresh petitions in the higher court.
The bail applications of PW auditors were denied by the lower court last week.Raju had confessed to perpetrating the Rs 7000 crore financial fraud at the IT company on January 7 this year.
Apart from Ramalinga Raju bail applications were withdrawn by his brother B Rama Raju,former CFO Srinivas Vadhlamani and PW auditors S Gopalakrishnan and Srinivas Talluri.
The five accused are now likely to apply fresh petitions in the higher court.
The bail applications of PW auditors were denied by the lower court last week.Raju had confessed to perpetrating the Rs 7000 crore financial fraud at the IT company on January 7 this year.
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