Satyam Raju’s brother fails to get anticipatory bail
By IANSThursday, February 12, 2009
HYDERABAD - B. Suryanaryana Raju, the second brother of Satyam Computer Services’ disgraced founder B. Ramalinga Raju, Friday failed to get anticipatory bail to avoid his arrest in the Rs.70 billion financial fraud in the IT major.
Suryanaryana Raju is a wholetime director of SRSR Advisory Services floated by Ramalinga Raju to manage the family’s stake in Satyam.
The Andhra Pradesh police want to quiz him as they believe he is a key player in the fraud to which Ramalinga Raju has confessed.
The police say Suryanaryana Raju is absconding. He had sought anticipatory bail from the court of Additional Metropolitan Sessions Judge T.Eshwar Rao.
Ramalinga Raju, his brother B. Rama Raju, who was Satyam’s managing director, and the firm’s former chief financial officer Vadlamani Srinivas are now in Chanchalaguda jail and have again sought bail.
Sixth Additional Chief Metropolitan Magistrate D. Ramakrishna, who earlier rejected their bail plea, Friday reserved for Feb 18 his orders on the fresh bail applications.
Ramakrishna also reserved for Feb 17 his order on market regulator Securities and Exchange Board of India’s (SEBI) plea to interrogate Srinivas and two former auditors of Pricewaterhouse.
On Feb 16, he will rule on Income Tax department plea for permission to interrogate Ramalinga Raju.
