Disgraced former chairman of Satyam Computers B Ramalinga Raju on Wednesday surrendered before a local court trying the nations biggest corporate fraud, allegedly to the tune of Rs 14,000 crore (Rs 140 billion). Raju's freedom has been short-lived as the Supreme Court on Tuesday rejected his plea requesting the Andhra Pradesh High court to allow some more time to surrender.
The high court on August 18 had allowed Raju's bail on the ground that all other accused in the case, including his brother Rama Raju, former Satyam CFO V Srinivas and three other former IT company employees G Ramakrishna, Venkatapathi Raju and Srisailam were granted bail by it.
The Apex Court on 26th of last month cancelled his bail granted by the Andhra Pradesh High Court in August and set November 10 as deadline for Raju and five others accused in Satyam scam to surrender.
Raju who attended the court proceedings in the morning however left the court without surrendering. He once again appeared along with counsel before the magistrate in the afternoon and informed that he and the other five accused were surrendering.
The magistrate ordered him and the other surrendered to judicial custody.
