Finally, Ramalinga Raju gets bail

BANGALORE, INDIA: The Supreme Court granted bail to Satyam founder B. Ramalinga Raju and his brother B. Rama Raju and former chief financial officer Srinivas Vadlamani on Friday.

An apex court bench of Justice Dalveer Bhandari and Justice Dipak Misra said from the facts of the case and considering the totality of the circumstances, it was appropriate to grant them bail.

The case revolves around one of corporate India's biggest frauds, with the accused facing charges of fudging company accounts and showing inflated profits.

The surfacing of the scam and consequent collapse of the company left lakhs of shareholders and others in the lurch.

The accused have been in Hyderabad's Chanchalguda central jail since January 2009, except for a brief period when they were granted bail.

Earlier in October 2010, the Supreme Court cancelled his bail petition and those of five other accused in the multi-crore rupee accounts fudging scam.

Back then, the apex court bench of Justice Dalveer Bhandari and Justice Dipak Misra asked them to surrender before the trial court by November 8.