Raju, Srinivas' Bail Plea To Be Heard On Jan, 27

Raju, Srinivas' Bail Plea To Be Heard On Jan, 27 23 Jan 2009, 1524 hrs IST, PTI Text: HYDERABAD: A local court on Friday posted the hearing on bail petitions of former chairman of Satyam B Ramalinga Raju and its ex-CFO Vadlamani Srinivas to January 27. The 6th additional chief metropolitan magistrate adjourned the hearing of the bail plea of the two as they are still in police custody, while posting the bail prayer of B Rama Raju, brother of Ramalinga Raju and former MD of Satyam, to January 28. Earlier, public prosecutor K Ajay Kumar filed a petition in the court seeking extension of judicial remand of the trio whose two-week remand ends today. Opposing their bail plea, the public prosecutor informed the court that the Ramalinga Raju was supposed to be a watchdog of public money, but he betrayed the trust by fudging the accounts of the firm. "The crime he (Ramalinga Raju) committed was grave and heinous," he said. He further informed the court that the CID, investigating the Satyam fraud, has written letters to various banks seeking information about the fixed deposits. However, BNP Paribas branch at Hyderabad has replied to the investigating agency that it has no fixed deposit of Satyam Computer and the bank has no transaction since 2004 with Ramalinga Raju or any others of the firm.

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