The Special Court hearing the multi-crore accounting fraud in Satyam Computers, on Thursday, postponed hearing on the bail petition of the firm's founder and former chairman B Ramalinga Raju, to August 16.
Ramalinga Raju, who is undergoing treatment for Hepatitis C at the Nizam's Institute of Medical Sciences, had applied for bail after the court had ordered the
release of 5 accused in the case, including his brother Rama Raju, former chief financial officer Vadlamani Srinivas, G Ramakrishna, Venkatapati Raju and Ch Srisailam, on July 20 this year.
Ramalinga Raju was the founder of the firm when it collapsed after he accepted that he had fudged accounts to the tune of crores of rupees.
Except for main accused Ramalinga Raju, 9 of the 10 accused have been granted bail so far, by various courts, on separate occasions.
The High Court had, last month, granted bail to former Pricewaterhouse Cooper auditor S Gopalakrishna and internal auditor Prabhakar Gupta, while in February this year, Srinivas Talluri (also a PwC auditor) had been granted bail.
In March 2009, another of Ramalinga Raju's brothers, Suryanarayana Raju, had been granted anticipatory bail.
Ramalinga Raju's bail plea had also been rejected bail by the High Court in June.
Courtesy: INN