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Wednesday, August 18, 2010

Key Satyam fraud accused Ramalinga Raju gets bail


The Andhra Pradesh High Court on Wednesday granted bail to prime accused Ramalinga Raju in India's biggest corporate scam, the Rs 10,000-crore Satyam fraud case. Earlier on July 20, the Andhra High Court had granted bail to five former Satyam Computer executives, including the brother of former chairman B Ramalinga Raju.

The country's biggest corporate scandal came to light on January 6, 2009, when Raju admitted that he had been cooking the books of the country's fourth largest IT services firm that he founded for years.

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