HYDERABAD: In a relief to B Appalanarasamma, mother of B Ramalinga Raju, the prime accused in the infamous Satyam Computer Services scam, the Telangana High Court on Friday directed the CBI to defreeze her bank accounts and Fixed Deposits.
Justice G Radha Rani of the High Court also ordered Karur Vysya Bank Limited’s Jubilee Hills and Kalyan Nagar branches, as well as HDFC Ba-nk Limited’s Banjara Hills branch, to enable the petitioner to operate the accounts and FDs.
Counsel for Appalanarasamma argued that his client was 85 years old and that her spouse was a successful businessman who is now no more. In 2010, the CBI initiated proceedings against her sons, listing them as accused, and had frozen the bank accounts of the accused, their family members, and relatives. The CBI also froze the bank account of the petitioner as part of the procedure. The petitioner was not named as an accused, and the chargesheet made no mention of her accounts or Fixed Deposits as being related to the matter, counsel argued.
Counsel also said the petitioner’s name was cleared by the Supreme Court in the proceedings initiated by the Securities Exchange Board of India (SEBI) for suspected insider trading. Counsel indicated that the petitioner had reported the revenue from the accounts frozen to the Income Tax department. The funds in the savings bank account and Fixed Deposits were the petitioner’s own funds, kept away for exigencies in her old age. The petitioner was suffering from age-related ailments and needed the funds in her accounts for day-to-day needs and exigencies. She needed money during her lifetime and prayed for the petition to be granted.