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Special court rejects bail for Raju, 7 other Satyam suspects

Special court rejects bail for Raju, 7 other Satyam suspects
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First Published: Thu, Aug 04 2011. 12 33 PM IST
Updated: Thu, Aug 04 2011. 12 33 PM IST
Hyderabad: A special court in Hyderabad on Thursday rejected the bail petitions of Satyam Computer Services Ltd’s founder B. Ramalinga Raju and seven other suspects in India’s biggest case of corporate fraud.
The eight had sought bail after the passing of a 31 July deadline set by the Supreme Court for the completion of their trial.
Raju, 56, in January 2009 confessed to misstating accounts to the tune of Rs 7,136 crore over several years at Satyam, a Hyderabad-based computer services company that was bought later by Tech Mahindra Ltd and rebranded Mahindra Satyam.
Viswanath.p@livemint.com
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First Published: Thu, Aug 04 2011. 12 33 PM IST