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Satyam scam: Ramalinga Raju surrenders before trial court | Former chairman of Satyam Computers, B Ramalinga Raju surrendered before a trial court here Wednesday. The Supreme Court had on Tuesday rejected the petitions of the accused seeking additional time to surrender. The apex court
had on October 26 cancelled the bail of Raju and five others and had asked them
to surrender before the trial court 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 the bail granted by the Andhra Pradesh 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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