Satyam scam: Ramalinga Raju's bail plea dismissed

A Special Central Bureau of Investigation (CBI) court on Thursday dismissed the bail petition of Satyam Computer scam accused B Ramalinga Raju and seven others.

The XXI Additional Chief Metropolitan Magistrate (ACMM) court had on Wednesday reserved its order on the bail of Raju and seven other accused.

CBI counsel K Surender had opposed the bail pleas of the Satyam accused claiming there was no change in circumstances and hence bail was not necessary.

He recalled that the Supreme Court had earlier rejected bail petitions of the accused and since the trial in the case was not yet over, bail was not necessary.

Senior advocate E Umamaheshwar Rao and three other counsels, who appeared for the accused, contended that there were indeed changed circumstances and said their clients were exercising the right for bail.

Seeking Raju's release on bail, Rao also wanted the court to consider good behaviour of his client and the cooperation he extended.

The CBI counsel submitted that the petitioners may influence the witnesses and tamper with evidence if released on bail.

Raju, Satyam's former MD B Rama Raju, ex-Satyam CFO Vadlamani Srinivas, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam and former PWC auditor Subramani Gopalakrishnan had on Tuesday sought bail on the grounds that the trial in Satyam scam was not completed before the stipulated time of July 31 and all the prosecution witnesses were examined.

Satyam's then internal auditor VS Prabhakar Gupta on Wednesday filed a bail petition on similar grounds.

Earlier, cancelling Raju's bail in October 2010, the Supreme Court directed the accused may file bail application only after July 31, 2011 if the trial in the case is not completed in the local court by then.