Daijiworld Media Network

New Delhi, Nov 4: B Ramalinga Raju, accused in one of the biggest corporate frauds in India, was on Friday November 4 granted bail by the Supreme Court. He is the former founder chairman of Satyam Computers Services Ltd, and has been behind bars since 2009.

His brother B Rama Raju and former chief financial officer V Srinivas were also granted bail.

The verdict was delivered by an apex court bench of Justice Dalveer Bhandari and Justice Dipak Misra, who said that the facts of the case and the totality of the circumstances were enough to come to the decision of granting bail.

The accused face charges of fudging company accounts and showing inflated profits. The surfacing of the scam and consequent collapse of the company left lakhs of shareholders and others in the lurch.

The accused have been in Hyderabad's Chanchalguda central jail since January 2009, except for a brief period when they were granted bail.