Scam-tainted Satyam Computer founder B. Ramalinga Raju has approached the Supreme Court seeking a review of its order cancelling the bail granted to him by the Andhra Pradesh High Court in the multi-crore rupee accounting fraud.
The petition was filed against the October 26, 2010 order by which a bench of Justices Dalveer Bhandari and Deepak Verma had set aside the order of the High Court granting bail to Mr. Ramalinga Raju along with his brother Rama Raju and four others.
The Supreme Court had allowed the appeal of the CBI and cancelled the bail granted to Mr. Ramalinga Raju and five others and had asked them to surrender by November 10.
The Supreme Court had observed that the fraud eroded “corporate credibility of the nation”.
“Ordinarily, this Court would be slow in cancelling the bail already granted by the High Court, but in extraordinary facts and circumstances of these cases, we are of the considered view that the impugned orders passed by the High Court granting bail to the respondents, cannot be sustained in law and the same are accordingly set aside,” the bench had said.