Business Today
Satyam case: CBI moves SC against Raju's bail
The agency has challenged the high court's decision, contending that Raju may influence the witnesses, a majority of whom are his former employees.

The Central Bureau of Investigation (CBI) on Monday moved the Supreme Court, seeking cancellation of the bail granted by Andhra Pradesh High Court to Satyam Computers' founder B Ramalinga Raju in the Rs 14,000-crore scam.

The agency has challenged the high court's decision, contending that Raju may influence the witnesses, a majority of whom are his former employees. Raju was the chairman of the company when the scam broke out.

The high court had on August 18 allowed Raju's bail on the grounds that all the other accused - brother Rama Raju, former Satyam CFO V Srinivas and former employees G Ramakrishna, Venkatapathi Raju and Ch Srisailam - were granted bail by it.

T Srinivas, Satyam's auditor, was granted bail by the Supreme Court.

However, the investigation agency contended there cannot be any parity between Raju and others as far as the seriousness of the case is concerned.

"Parity can not be claimed by the respondent (Raju)... Parity could be claimed only if the roles of two people (Raju and Srinivas) are similar or identical," the CBI said in its petition, while appealing against the bail granted to Raju on furnishing two personal bonds of Rs 20 lakh each.

The probe agency, in its petition filed by advocate Arvind K Sharma submitted that the roles of Srinivas and Raju were quite different in the scam and the latter could not be granted bail on that criteria.

Over Raju's health, the CBI submitted that "his condition is improving" and he is "showing positive response to the treatment" and hence the bail should be cancelled.

Get latest news & live updates on the go on your phone with our News App. Download The Business Today news app on your device
More from BIZ WRAP