Magistrate B. V. L. N. Chakravarthi, presiding over the XXI Additional Chief Metropolitan court of Hyderabad, today rejected the bail applications of former Satyam Computers chairman B. Ramalinga Raju and six other accused in the Rs. 14,000 Cr accounting fraud.
Raju and others had applied for bail based on the Supreme Court suggestion that they could approach the trial court for bail if the trail was not completed before July 31 for any reason. The apex court gave this suggestion last year when it cancelled their bail granted to them by the state high court.
The court said that it would give the reason for rejection of bail in a separate order.
