Satyam scam: Raju surrenders, sent to JC till July



Hyderabad: Scam-tainted B Ramalinga Raju, the prime accused in the multi-crore rupees Satyam Computer accounting fraud case, and five other accused today surrendered before a local court.

CBI DIG (Hyderabad Zone) V V Lakshmi Narayana said the accused will be under judicial custody till July, 2011 and will not be able to apply for bail until then.

The CBI officer said Raju and the five other accused would be taken to the Chanchalguda Central Prison here, where they were lodged after their arrest last year.

After rejecting Raju's plea seeking extension of today's deadline, the Supreme Court had directed Raju to surrender before the special court.

"The accused are directed to surrender on or before November 10, otherwise the CBI shall take appropriate steps in accordance with law," the apex court had said.

Observing that the fraud eroded the "corporate credibility of the nation", the apex court on October 26 on CBI plea had cancelled the bail granted to Raju by the Andhra Pradesh High Court on August 18.

His brother Rama Raju, former Satyam CFO V Srinivas and three other former IT company employees -- G Ramakrishna, Venkatapathi Raju and Srisailam were also granted by the high court.

Raju, who attended the court proceedings in the morning, left the court without surrendering.

He once again appeared along with counsel before the XXI Additional Chief Metropolitan Magistrate (ACMM) court and informed magistrate BVLN Chakravarthi that he was surrendering.

In January 2009, Raju had admitted to doctoring the account books of the company for years. The IT company has since then been acquired by Tech Mahindra which rebranded it as Mahindra Satyam.

The fraud, alleged to be of about Rs 14,000 crore, is being investigated by multiple agencies, including the CBI. Raju was, till recently, undergoing in-patient treatment for liver infection in a Hyderabad hospital.

CBI had filed the chargesheet running into over 10,000 pages, naming more than 250 witnesses. Charges were framed on October 25 and trial is scheduled to commence from November 2.

Raju was arrested on January 9 last year, two days after he wrote a letter to the company Board admitting to fudging the company's books.

-PTI