Hearing on Raju’s bail petition adjourned to Friday
By IANSSunday, January 11, 2009
HYDERABAD - A court here Monday adjourned the hearing on the bail petition of the disgraced former top brass of Satyam Computer Services to Friday.
The court also adjourned the hearing on the petition of the Criminal Investigation Department (CID) seeking their custody and another petition by market regulator Securities and Exchange Board of India (SEBI) seeking permission to question them in connection with a Rs.70 billion ($1.43 billion) fraud.
Additional Chief Metropolitan Magistrate D. Ramakrishna adjourned the hearing on all the three petitions to Friday in view of the three day Sankranti holidays for the courts.
Satyam’s founder and former chairman B. Ramalinga Raju, his brother and former managing director B. Rama Raju and former chief financial officer Vadlamani Srinivas were remanded to judicial custody till Jan 23. They have been kept at Chanchalguda Central Jail here.
S. Bharat Kumar, the lawyer for Satyam’s former bosses, moved the bail petition.
