Satyam case: Ramalinga Raju, nine others get bail

Hyderabad, May 11

A metropolitan sessions court today 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.

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 1 lakh each and two sureties of the like sum.

“They shall also pay one-tenth of fine amount within 4 weeks from the date of release on bail before the trial court, failing which they must undergo default sentence,” the order said. PTI