SC dismisses plea by Ramalinga Raju to review bail dismissal

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The Supreme Court has dismissed petitions filed by B. Ramalinga Raju, founding chairman of scam-hit Satyam Computers and three others, seeking review of its order cancelling the bail granted to them by the Andhra Pradesh High Court in the multi-crore rupee accounting fraud.

A bench of Justice Dalveer Bhandari and Deepak Verma dismissed the review petition filed by Ramalinga Raju, his brother Rama Raju and two others.

"We have carefully gone through the review petitions and the connected papers. We do not find any ground to review the aforementioned order. The review petitions are accordingly dismissed," said the bench in its order.

The petition was filed against the October 26, 2010, order in which the same bench of Justices Dalveer Bhandari and Deepak Verma had set aside the order of the high court granting bail to Raju along with his brother Rama Raju and four others.

The apex court had allowed the appeal of CBI and cancelled the bail granted to B Ramalinga Raju and five others and asked them to surrender by November 10.

The Supreme Court had observed that the fraud eroded the 'corporate credibility of the nation'.

"Ordinarily, this court would be slow in cancelling the bail already granted by the High Court but in extraordinary facts and circumstances of these cases, we are of the considered view that the impugned orders passed by the High Court granting bail to the respondents cannot be sustained in law and the same are accordingly set aside," the bench had said.