Five Satyam fraud accused get bail
India Blooms News Service
Hyderabad, July 20 (IBNS): Five accused in India’s biggest corporate fraud of Satyam accounting scam, including former managing director Rama Raju and former chief financial officer Vadlamani Srinivas, were granted bail by the Andhra Pradesh High Court on Tuesday.
Justice Raja Elango granted bails to Rama Raju, brother of Satyam founder Ramalinga Raju, Srinivas and three other former Satyam employees G Ramakrishna, Venkatapathi Raju and Ch Srisailam.
Except for Ramalinga Raju, all accused in the Satyam case have got bail now.
Former Pricewaterhouse (PwC) auditor S Gopalakrishnana and former internal auditor Prabhakara Gupta were granted bail last week.
The High Court had last month rejected the bail petition of Ramalingam Raju.
The Satyam founder was arrested with nine others in January last year after Raju had admitted to fudging the accounting books of the IT company.
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