July 20, 2010 3:50 PM

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HC grants bail to Rama Raju, others in Satyam fraud case

In big relief to former Satyam managing director Rama Raju, former chief financial officer Vadlamani Srinivas and three others accused in the multi-crore rupee scam, the Andhra Pradesh High Court on Monday granted bail to B Rama Raju and others. Though former Satyam founder Ramalinga Raju was not lucky and did not get bail. Justice Raja Elango granted bail to Rama Raju, Srinivas and three others former Satyam employees G Ramakrishna, Venkatapathi Raju and Srisailam.Last month, the AP high court had granted bail to former Pricewaterhouse Coopers' auditor S Gopalakrishnana and former internal auditor Prabhakara Gupta.In January last year Satyam founder Ramalinga Raju and nine others were arrested after Raju had admitted to fudging the accounting books of the IT Company.

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