The Supreme Court today granted bail to four of the former Satyam Computers employees and one official of its statutory auditor PricewaterhouseCoopers (PwC) in the well known Satyam fraud case.
The court however refused bail to top officials of the company including its former chairman Mr Ramalinga Raju in one of India’s biggest corporate frauds.
The four who were granted bail are former senior manager V. Venkatapathy Raju, former assistant manager C.S. Srisailam, former vice president G. Ramakrishna, and former head of its internal audit V.S. Prabhakar Gupta. PwC employee Subramani Gopalakrishnan was also granted bail by the apex court’s division bench consisting of Justices Dalveer Bhandari and Justice Dipak Misra.
The bench said that the said employees would be released upon the satisfaction of the trial court and on depositing their passports. The judges refused bail to the former Satyam chairman Ramalinga Raju and his brother Rama Raju who are facing prosecution for fudging the company accounts to the tune of Rs.14,000 Cr .
