Hyderabad: A city metropolitan magistrate court on Thursday granted anticipatory bail to B. Suryanarayana Raju, younger brother of jailed founder of Satyam Computer Services Ltd B. Ramalinga Raju in connection with India’s largest accounting fraud of Rs 7,163 crore confessed by senior Raju on January 7.
Suryanarayana Raju is the chairman of SRSR Advisory Services Pvt Ltd, a family firm of Rajus engaged in offering financial and advisory services to a group of family-owned firms.
Andhra Pradesh crime investigation department (CID) sleuths have so far arrested five key accused in connection with the fraud, but had not taken into custody the junior Raju, who was suspected to have played a key role in the land purchases of the Raju firms, and were scouting for him since January 9.
The five key accused arrested so far and sent to judicial custody include Ramalinga Raju, his brother and the then managing director of the software firm B. Rama Raju, then chief financial officer Srinivas Vadlamani, and the two auditors of Price Waterhouse S. Gopalakrishnan and Srinivas Talluri. The judicial custody of these five ends on March 7.
Raju is the second person to obtain bail from the court so far in connection with the fraud, the other being the general manager of SRSR Advisory Services D. Gopalakrishnam Raju, who was arrested by the police and sent to judicial custody earlier.