Earlier, the CBI in its chargesheet against Raju and other accused parties alleged that as against the projected cash and bank balances of Rs 5160 crore by the end of second quarter of 2008 in the balance sheets, the actual cash and bank balance was only Rs 139 crore.

“...It is revealed that huge amounts of cash and bank balances were fraudulently and dishonestly reflected in the balance sheets of SCSL by the accused, where only very less amounts of cash and bank balances were actually available,” the CBI said.

Raju in his confessional letter dated January seven, 2009 had mentioned that the balances sheet for September 2008 carried non-existent cash and bank balances to the tune of Rs 5,040 crore.