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SC notice to Raju on plea to cancel his bail

SC notice to Raju on plea to cancel his bail

The SC has issued a notice to Raju on the CBI appeal challenging the bail granted by the Andhra Pradesh High Court.

New Delhi: The Supreme Court on Friday sought a response from Satyam Computer's disgraced founder, B Ramalinga Raju, on the CBI's plea for cancellation of his bail in the multi-crore rupee accounting scam.

A bench comprising Justices Dalbeer Bhandari and Deepak Sharma has issued a notice to Raju on the CBI appeal challenging the bail granted by the Andhra Pradesh High Court.

A flurry of fraudulent activities at Satyam Computer Services resulted in financial irregularities worth over Rs 7,855 crore, according to company records.

Once a famed software exporter, former Satyam Computer went into a tailspin after its founder chairman B Ramalinga Raju in January 2009 admitted to cooking up the firm's account for many years.

Even though, he had then admitted to financial fraud to the tune of Rs 7,100 crore, subsequent reports pegged the size of financial irregularities at well over Rs 10,000 crore.

first published:October 01, 2010, 12:19 IST