NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » Rajus, Srinivas move higher court for bail

Rajus, Srinivas move higher court for bail

Last updated on: May 11, 2009 19:18 IST

Fraud-hit Satyam Computer's former managing director B Rama Raju today said that he played no role in the financial fraud in the IT company, while arguing for bail in a higher court on Monday.

Disgraced Satyam founder B Ramalinga Raju, his brother Rama Raju, and IT firm's former CFO Vadlamani Srinivas moved their bail applications in the IV Additional Metropolitan Sessions judge in the Nampally criminal court complex. Their bail pleas were rejected by the designated court for CBI (XIV Additional Chief Metropolitan Magistrate).

The court will hear arguments on the bail applications of Ramalinga Raju and Vadlamani on Tuesday.

Appearing on behalf of Rama Raju, Supreme Court lawyer R K Handoo contended that his client had had no role in the financial fraud.

He informed the court that till page No. 25 of the charge sheet submitted by the investigation agency CBI, there is not a "whisper" about his client and no direct allegation against him.

Rama Raju was arraigned because he was a younger brother of the company's former chairman B Ramalinga Raju, he said, adding that he was managing director of the IT firm just for name's sake.

© Copyright 2013 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.