Court grants bail to Ramalinga Raju, other 9 convicts

Satyam Computers founder B Ramalinga Raju, his brother B Rama Raju, and all the other eight accused have been granted bail in the multi-crore scam which came to light in 2009. All have been into custody barely a month ago after the conviction in the trial court.

Both the brothers have been ordered to pay Rs 1 lakh in personal bond, and the other 8 accused will have to pay Rs 50,000 in personal bond. All accused will have to pay 10% of their fine amount within four weeks which was imposed on them by the trial court while sentencing them.

Raju, the main accused, and others, had filed appeals in the sessions court last week, challenging conviction and the sentences awarded by the additional chief metropolitan magistrate's court (ACMM).

On April 9, the special Central Bureau of Investigation (CBI) court of judge BVLN Chakravarthi had slapped a fine of Rs 5 crore on Raju and Rama Raju, while the other eight convicts slapped a fine of Rs 25 lakh each along with seven-year jail term for criminal conspiracy and cheating among other offences.