The AP high court today rejected the bail application of Mr B. Ramalinga Raju, main accused in the Rs.14000 Cr accounting fraud of the former Satyam Computers. The bail petitions of other accused persons were also rejected by the court.
The tainted former Satyam Chairman and others approached the High Court for bail after trial court dismissed their bail petitions a week ago.
It might be mentioned that the Supreme Court had cancelled his bail granted by the High Court last year and asked him to approach the trial court for bail if the trail was not completed by July 31, 2011 by any reason.
Based on that observation, Raju and others approached the trail court at Nampally for bail but the court dismissed their bail petitions. Again, the Raju and group approached the High Court for bail citing the Supreme Court observation.
The high court, while rejecting the bail, asked him and others to approach the trial court only as per rules.
