CBI moves SC for cancellation of Raju`s bail

CBI today moved the Supreme Court seeking cancellation of the bail granted bail to B Ramalinga Raju, tainted founder of Satyam Computers, by the Andhra Pradesh High Court in Rs 14,000 crore scam.

New Delhi: CBI today moved the Supreme Court
seeking cancellation of the bail granted bail to B Ramalinga
Raju, tainted founder of Satyam Computers, by the Andhra
Pradesh High Court in Rs 14,000 crore scam.

The probe agency has challenged the High Court decision
contending that Raju, who was the Chairman of the company, may
influence the witnesses majority of whom are his former
employees.

The High Court on August 18 had allowed Raju`s bail on the
ground that all other accused in the case including his
brother Rama Raju, former Satyam CFO V Srinivas and three
others former IT company employees G Ramakrishna, Venkatapathi
Raju and Ch Srisailam were granted bail by it.

T Srinivas, Satyam`s auditor was granted bail by the
Supreme Court.

However, the CBI contended that there cannot be any parity
between Raju and others as far as the seriousness of the case
is concerned.

"... parity can not be claimed by the respondent (Raju)
that he is on par with T Srinivas who was granted bail by the
Supreme Court on February 4, 2010. Parity could be claimed
only if the roles of two persons (Raju and Srinivas) are
similar or identical," the CBI said in its petition while
appealing against the bail granted to Raju on furnishing two
personal bonds of Rs 20 lakh each.

The probe agency, in its petition filed by advocate
Arvind K Sharma submitted that the roles of Srinivas and Raju
was quite different in the scam and the latter could not be
granted bail on that criteria.

Over Raju`s health the CBI submitted that "his condition
is improving" and he is "showing positive response to the
treatment" and hence the bail should be cancelled.

Raju, who was arrested on January 9 last year and is
currently undergoing treatment for liver infection in the
state-run Nizam Institute of Medical Sciences here, was
ordered by the court to appear before the trial court once
he is discharged.

On August 30, CBI had moved the Apex Court seeking
cancellation of the bail granted to Rama Raju, Srinivas,
Ramakrishna, Venkatapathi and Srisailam accused in India`s
largest corporate fraud.

The court had issued notices asking them as to why their
bails should not be cancelled and had directed them to file
reply.

On January 7 last year, Raju in a letter to Satyam`s
Board, admitted to fudging the accounts of the company over
the past several years and creating fictitious assets where
none existed. He was arrested two days later.

PTI

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