Cancelling the bail given by various courts to the accused in the Satyam Computers accounting fraud case, the Supreme Court on Tuesday ordered former company chairman Ramalinga Raju, his brother B Rama Raju and 4 others to surrender by November 8.
A Bench, comprising of Justice Dalveer Bhandari and Justice Deepak Verma, also directed the CBI Special Court hearing the Rs. 14,000 crore accounting fraud case to complete the trial by July 31, 2011.
The Bench, agreeing with the CBI's plea that the trial affects a large number of shareholders, banks and financial institutions, overruled the State High Court's orders granting bail to Ramalinga Raju.
The CBI's plea to the Apex Court, seeking cancellation of Raju's bail, stated that the Satyam Computers founder had 'misused' the terms of the bail and tried to influence a witness in the case by meeting him.
The High Court had granted bail to Raju, his brother Rama Raju and former chief financial officer Vadlamani Srinivas, G Ramakrishna, Venkatapati Raju and Ch Srisailam.
The CBI had approached the Supreme Court against the High Court's decision on September 13, arguing that Ramalinga Raju and his co-accused might try and influence witnesses in the case and also divert funds misappropriated by them.