There seem to be no respite to Satyam Ramalinga Raju in the Multi Crore financial fraud in Satyam fiasco. Ramalinga Raju who has been convicted in the Satyam fraud case for seven years have filed a bail petition in high court. The apex court rejected to take up the case and asked the applicants to file a petition in Nampally Special Court itself.
So the convicts in this case will now have to appeal for bail in the Nampally court and can knock the door of the high court if their bail is rejected there. This order will mean that Ramalinga Raju had to stay some more days in jail. On Wednesday, Justice M S Ramachandra Rao rejected to hear the case saying that when the Satyam case was registered in 2009, the judge was then a practicing lawyer and had represented Sebi as its counsel in the same case. The case was taken up by another judge today.
[m9ad]
It is known that earlier this month, the Nampally Special Court had awarded seven years of jail sentence to Satyam Rama Linga Raju in the multi-crore Satyam Computers account fraud. Since Raju had already spent 33 months in jail, he will have to complete the remaining term. Nine others involved in the case were also declared as guilty.
