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Satyam fraud case: Supreme Court rejects Ramalinga Raju's plea | The Supreme Court on Tuesday rejected the plea of former Satyam chairman B. Ramalinga Raju, seeking extension of tomorrow's deadline for his surrender. The apex court had earlier cancelled Raju's bail and directed him to surrender by November 10. However, Raju had moved an application
seeking extension of this deadline to surrender citing poor health. The application
did not mention as to how much time he needed to surrender. Raju had merely sought
reasonable extension. Raju, the founder of Satyam was arrested in January 2009
for one of India's biggest corporate scams, worth more than 7000 crore. The apex
court had earlier on October 1 issued notice to Raju on a petition by the CBI
seeking cancellation of his bail granted by the Andhra Pradesh High Court. Raju
was granted bail by the Andhra High Court in August. The CBI believes that Raju
may try to tamper with evidence against him and influence witnesses. He has been
charged under various sections of the Indian Penal Code including Section 120B
for criminal conspiracy, under Section 409 for breach of trust, under Section
420 for cheating, and under Section 468 and Section 471 for forgery. Andhra Pradesh
Police arrested Raju and his brother Rama Raju on January 9, 2010. Nine other
accused, including top company officials and auditors, were also arrested in the
case.
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