SC delivers notice to Raju on financial guarantee
Over and above a month subsequent to the Andhra Pradesh High Court settled financial guarantee to previous Satyam leader Ramalinga Raju in the Rs 7,000 crore deception cases, on Friday the Supreme Court considered CBI's plea looking for annulment of the release.
A panel includes Justices Deepak Verma and Dalveer Bhandari, subsequent to the court hearing concise urging from solicitor general Gopal Subramaniam, issuing notification to Raju inquiring him to act in response to CBI's petition.
The court had previously hand out notices to added co- charged in the Satyam fraud case that involves V Srinivas, D Venkatapathy Raju, G Ramakrishna, and Ch Srisailam on a petition demanding endowment of financial guarantee to them by the HC. The HC had settled them bail on the basis that there was no likelihood of premature conclusion of hearing.
Giving surety for the apex court that the hearing was expected to be concluded within six months, CBI expressed in all these persons, counting Raju, were amongst those who counterfeited yearly financial declaration of the firm to synthetically jack up the group's share prices. CBI expressed that these persons had pretended the bank declarations regarding the finances to reveal that there was immense balance in the firm's bank accounts.