Satyam founder Raju gets bail

Mumbai: An Indian court on August 18 granted bail to the founder and former chairman of Satyam Computer Services Ltd., B. Ramalinga Raju, who has been in custody for more than a year-and-a-half in a case brought against him by the federal investigating agency for cheating and forgery in India’s biggest ever corporate scandal.

“The trial court has directed to release him (Ramalinga Raju) on furnishing of two sureties of 2 million rupees each and the petitioner (Raju) is directed to cooperate with the investigation and trial,” Bharat Kumar, counsel for Ramalinga Raju, told reporters outside the courtroom in the city of Hyderabad.
Raju, who has been receiving treatment in hospital, has also been directed to appear before India’s federal investigating agency — the Central Bureau of Investigation —every day after his discharge, Kumar added.

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