The Supreme Court has cancelled the bail granted by the Andhra Pradesh High court to Satyam Computer founder B Ramalinga Raju in the 14,000-crore accounting fraud. The apex also cancelled the bails granted to his his brother B Rama Raju and four others.Hearing the CBI plea, a Supreme Court bench comprising Justices Dalveer Bhandari and Deepak Verma on Tuesday cancelled the bails and asked all six persons to surrender by the 8th of next month. The court observed that the case involved the biggest scam in the history of India, which had affected large number of shareholders, banks and financial institutions. Therefore, the bail cannot be sustained.The apex court also directed the special court in Hyderabad, which is conducting the trial in the Satyam case, to conclude its proceedings by July 2011.
News On AIR | October 26, 2010 5:46 PM
SC cancels Raju’s bail