Business OpportunitiesCourt rejects bail plea of senior VP of Satyam
A local court today dismissed the bail petition of V S Prabhakara Gupta, Senior vice-president and global head of internal audit cell in Mahindra Satyam, who was arrested in the multi-crore accounting scam in Satyam Computer Services.
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Gupta, who was arrested by CBI on November 21, on charges of falsifying accounts and co-conspiring with the other accused had moved a bail plea in the XIV additional chief metropolitan magistrate court, seeking his release on medical grounds.
Gupta"s counsel in the application had said his client is suffering from high blood pressure and diabetes. "Gupta is only an employee, and he has no access to business transactions and he is falsely implicated in the case," the defence counsel contended.
Opposing his bail, the CBI counsel told the court that medical facilities are available in the jail and if the need arises, Gupta can be shifted to a hospital.
"Gupta is one of the co-conspirator in commission of offence in Satyam case and supported other accused in inflating balance sheets and manipulating the accounts," the CBI counsel had alleged.
Judge K Sudhakar who had reserved his orders in the matter dismissed Gupta"s bail petition on the ground that he was arrested only few days ago and that investigations on his role in the case were in progress.