Satyam scam accused, Rama Raju granted bail

All but one, accused for the multi-million Satyam scam managed to get the bail from Andhra Pradesh High Court on Tuesday. Justice Raja Elango of the AP high court granted bails to Rama Raju, brother of the master mind of the scam Ramalinga Raju, Srinivas and three others former brass of the Satyam G Ramakrishna, Venkatapathi Raju and Ch Srisailam.

In January last year Ramalinga Raju and nine other Satyam employees were arrested for the accounting fraud in the company which trembled the whole country with shock. Central Bureau Of Investigation (CBI)’s initial probe made it crystal clear that this scam had the involvement of many Satyam top-brass and its auditors.

Despite of the opposition made by the Solicitor general of India, Mr. Gopal Subramanium the decision came in the favor of the accused. Nobody paid heed to his very prudent statement that’ The accused in Satyam scam are very influential people and it won’t be a sensible thing to let them out as they would try to tamper evidence and persuade the witness in their favor.’

The main architect of this scam is still behind the bars. The Supreme court had rejected his plea for the bail when he applied for it in March 2010.Even last month the High Court has rejected the bail plea of Ramalingam Raju.

Last month, Pricewaterhouse (PwC) auditor S Gopalakrishnana and former internal auditor Prabhakara Gupta managed to get the bail from AP High court.

CBI official earlier this month has told a news agency that the accused Ramalinga Raju and his relatives made a handsome Rs 2,700 crore by doing fraud in share.

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