Satyam case: Raju, others may be out today
Satyam Computers founder B Ramalinga Raju and nine others are expected to be released from the Cherlapally Central Prison on Wednesday, as the prison authorities did not receive the bail order on Tuesday.
A metropolitan sessions judge here yesterday suspended seven-year rigorous imprisonment sentence awarded to Raju and others in the Satyam case, known as one of the biggest corporate frauds in India.
Raju’s lawyer said the bail order could not be submitted to the 21st additional chief metropolitan magistrate's court (which had tried the case) on Tuesday, so Raju and others are likely to walk out of jail by tomorrow evening. "Bail orders were not yet received," said a senior prison official. Raju and his brother and former managing director of Satyam, B Rama Raju, were granted bail on the condition that they furnish personal bonds of Rs 1 lakh each and two sureties of the like sum.