After spending about 32 months in jail, erstwhile poster boy of the Indian IT sector, B Ramalinga Raju, was allowed to go home.
After spending about 32 months in jail, erstwhile poster boy of the Indian IT sector, B Ramalinga Raju, was allowed to go home. Around 5.55 pm on Saturday, Raju was sent home by the jail authorities after submission of required documents and guarantees by his lawyers.
The founder of Satyam Computer Services was arrested on January 9, 2009 along with his brother and former Satyam MD B Rama Raju and Satyam’s ex-CFO Vadlamani Srinivas. The trio was named as prime accused in the Rs14,000 crore Satyam scam.
There were seven more accused in the case including former auditors of the company S Gopalakrishnan and Talluri Srinivas.
After getting arrested and lodged in the central prison at Chanchalguda in Hyderabad, the senior Raju had spent several months in a multi-specialty hospital to get treatment for Hepatitis C related ailments. Raju was also granted bail by the Andhra Pradesh high court sometime ago. However, on CBI opposing the bail, the Supreme Court had cancelled the bail and forced Raju to go back to the jail.
The Satyam accounting scam was handed over to the CBI for further probe and it has completed significant part of the investigation. The trial into the case too had begun and a special court handling the case recorded the statements of the witnesses. The court is yet to confront the accused with the findings of the investigation.
After walking out of the jail, Raju refused to speak to media and drove straight to his residence at Jubilee Hills. According to sources, Raju’s family had made elaborate arrangements to receive him and several relatives and friends of Raju had assembled at his residence to see him walking free.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}