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A city court on Thursday rejected the bail petition of founder and ex-chairman of Satyam Computer Services Ltd, Mr B. Ramalinga Raju, and seven other accused in the Rs 7,136-crore fraud case.
The 12th Additional Assistant Magistrate of the designated court had rejected the bail taking into consideration the Central Bureau of Investigation’s plea that the bail would hamper the investigation which was in ‘crucial stage’.
Mr Raju and others filed the bail petition on August 1 after the deadline (July 31, 2011) set by the Supreme Court for completing the trial by the special court in October 2010.
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