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Supreme Court grants bail to Satyam founder Raju, brother


Mangalore Today News Network

New Delhi, Nov 4, 2011: Close on the heels of granting bail to four former employees of Satyam, the Supreme Court today granted bail to Satyam founder B Ramalinga Raju and his brother B Rama Raju. Former Chief Financial Officer Srinivas Vadlamani has also been granted bail.


Mr Raju and his brother B Rama Raju had earlier approached the Supreme Court seeking bail in multi-crore accounting fraud involving the software firm. They argued that they had already spent nearly two years and eight months in jail for an offence that carries a maximum sentence of seven years.


Earlier, the Supreme Court had granted bail to four former employees of the IT major and a former auditor of PriceWaterhouseCoopers (PWC) on a personal bond of Rs. 2 lakh and surety of like amount.

 

 

 

 

Courtesy : NDTV


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A.S.Mathew, U.S.A. Sat, November-5-2011, 6:49
Another sad story to be learnt about the dire consequences of loving money, and the dangerous repercussions in hoarding them through short cuts and illegal methods. We can be very happy when we learn to live within our means and available resources.
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