Satyam’s Raju, nine others get bail

A metropolitan sessions court here on Monday granted bail to Satyam Computers founder B Ramalinga Raju and nine others and suspended their seven-year rigorous imprisonment sentence in the multi-crore rupee accounting fraud in the erstwhile IT firm. They had been taken into custody barely a month ago after the conviction in the trial court.

M Laxman, special judge for economic offences, said the execution of “substantive and default” sentence is suspended for Raju and his brother and then managing director of Satyam, B Rama Raju, on furnishing of personal bonds of Rs one lakh each and two sureties of the like sum. “They shall also pay one tenth of fine amount within four weeks from the date of release on bail before the primary court (trial court), failing which they must undergo default sentence,” the judge said in the order.