Satyam Computer Founder Ramalinga Raju Gets Bail in Multi-Crore Fraud Case

11 May, Hyderabad

Hyderabad court Monday granted bail to all 10 convicts in Satyam Computers multi-crore rupees fraud including it founder Ramalinga Raju and his brother. The local court granted bail to Ramalinga Raju and his brother Rama Raju on a personal bond of Rs 1 lakh each.

Other 8 convicts have been granted bail on a bond of Rs 50,000 each. Disposing a petition seeking suspension of the sentence and fine imposed by a special court, the local court has given orders to this effect.

The Additional Chief Metropolitan Court last month had sentenced Ramalinga Raju and nine others 7-year imprisonment while fining Raju brothers Rs 5 crore each. All the ten convicts are presently in Cherlapally Central jail near Hyderabad.

The Multi-crore rupees accounting fraud in Satyam Computers came to light first in the month of January 2009.