HYDERABAD: A court here on Saturday dismissed the bail applications of the former Satyam Computers chairman, B. Ramalinga Raju, his brother Rama Raju and the former Chief Financial Officer, Srinivas Vadlamani.
This is the third time their bail pleas have been rejected by the trial court since they were arrested on January 9 in connection with a financial scam in the company.
Fourteenth Additional Chief Metropolitan Magistrate N. Victor Immanuel said there was a danger of the petitioners tampering with evidence and influencing witnesses. He also kept in view simultaneous investigations by the Central Bureau of Investigation, the Serious Fraud Investigation Office, the Securities and Exchange Board of India and the Enforcement Directorate, which required that the accused remain in judicial custody.
He dismissed the defence contention that there was no justification for confining the petitioners in jail as they had already spent over a 100 days in prison, were chargesheeted and examined by different agencies. Moreover, they had surrendered their passports.
The magistrate recalled that the Supreme Court, in the case of Kalyana Chandrasekhar vs. Rajesh Ranjan alias Pappu Yadav and others (2004), held that a certain period of incarceration by itself would not entitle the accused to bail.
The magistrate permitted the CBI to take up the second spell of investigation, the agency having filed the charge sheet on April 7. As for conducting lie detection and brain mapping tests on the Rajus and Mr. Srinivas, the court deferred a decision, as defence counsel sought rehearing of arguments.