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Satyam CFO Vadlamani remanded to judicial custody

Mohammed Siddique in Hyderabad | January 11, 2009 18:32 IST

Srinivas Vadlamani, the Chief Financial Officer of Satyam [Get Quote] Computers, was remanded to judicial custody till January 23 by the 6th Metropolitan Magistrate on Sunday. He was later shifted to the Chanchalguda central jail, where former chairman of Satyam B Ramalinga Raju and his younger brother Rama Raju have been lodged since Saturday.
Satyam's lawyer S Bharat Kumar pleaded with the judge that Srinivas was not well and he should be sent to a hospital. The judge asked Srinivas to undergo medical tests at the jail.
Bharat Kumar said that the bail petition for all the three former officials of Satyam will come up for hearing on Monday. The CID has also moved a petition seeking the custody of all the three accused for further questioning.

According to legal experts, given the serious nature of charges in the Rs 7,000 crore scam, Raju brothers and the CFO are unlikely to be granted bail any time soon. They might be sent to the CID's custody for further questioning, believe experts.

 The Satyam Fiasco

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