The 6th Additional Chief Metropolitan Magistrate posted for Friday the hearing on the bail petitions of former Satyam Chairman B Ramalinga Raju and his brother and ex-managing director Rama Raju as the defence lawyers could not reach the court on time.
However, Nalini Kumar, the high court lawyer for Satyam's former CFO Vadlamani Srinivas, concluded his argument stating that his client will continue to co-operate with investigating agencies if he is released on bail. Srinivas is in judicial remand, along with the Raju brothers, since last month.
He informed the court that his client is not even an employee of the firm now. Kumar contended that the state CID, which is investigating the Rs 7,800 crore (Rs 70 billion) fraud in Satyam Computer, had objected to the bail petition on January 28 on the grounds that it has to seize and scrutinise more documents from the office and residence of the Rajus. But 15 days have elapsed, but the prosecution has failed to produce any document in court.
He concluded his argument by informing the court that his client would always be available to investigating agencies, including SEBI and the SFIO.
Meanwhile, the anticipatory bail hearing of Satyam founder Ramlinga Raju's brother, Suryanarayana, has been scheduled for Friday. Suryanarayana Raju is advisor to the SRSR holding firm. He has not been accessible ever since the CID raided his residence and office on January 21.
Public prosecutor Bal Buchaiah opposed Suryanarayana Raju's anticipatory bail petition.
