The Andhra Pradesh High Court has granted bail to former managing director of Satyam Computers, Rama Raju, former chief financial officer Vadlamani Srinivas and three others accused in the Rs 7,800 crore accounting scam. With this, nine out of the 10 accused in the Satyam case have secured bail, with only B Ramalinga Raju in custody. Justice Raja Elango on Tuesday granted bails to Rama Raju, who is the brother of Satyam founder Ramalinga Raju, Srinivas and three others former Satyam employees namely G Ramakrishna, Venkatapathi Raju and Ch Srisailam. Last month, the high court had granted bail to former Pricewaterhouse (PwC) auditor S Gopalakrishnana and former internal auditor Prabhakara Gupta.
Ramalinga Raju is still in the Nizams Institute of Medical Sciences, Hyderabad undergoing treatment for Hepatitis C. On February 19, the Andhra Pradesh High Court on Friday had rejected the bail plea of Ramalinga Raju on the ground that it would affect the investigation process. Having committed one of the biggest frauds in Indian corporate history, Raju had filed a bail petition asking him to be released on health grounds and also enable him to defend himself in the dozens of cases slapped against him across the country.