A city court Wednesday extended by two weeks the judicial remand of disgraced founder and former chairman of Satyam Computer Services B. Ramalinga Raju and other accused in the Rs.78 billion accounting fraud case.
The XIV Additional Chief Metropolitan Magistrate extended the remand of Raju, his brother B. Rama Raju, former chief financial officer Vadlamani Srinivas and five other accused till July 22.
The Central Bureau of Investigation (CBI), which is probing the massive fraud, produced all eight accused in the court as their remand ended Wednesday.
Former auditors of Price Waterhouse S. Gopalakrishnan and T. Srinivas and three former Satyam employees - former vice president (finance) G. Ramakrishna and former managers (finance) D. Venkatapathi Raju and Ch. Srisailam - were also brought before the magistrate.
All the eight accused were sent back to Chanchalguda central jail.
Raju stunned corporate India Jan 7 by admitting the Rs.78 billion (7,800 crore) accounting fraud. The accused face charges of cheating, criminal conspiracy, falsification of records and forgery.
