The sixth additional chief metropolitan magistrate today posted the bail petitions filed by Price Waterhouse (PW) auditors S Gopalakrishnan and Talluri Srinivas for furthering hearing to February 24.
The PW auditors were arrested on January 23 in connection with the Rs 7,800 crore Satyam fraud and have been in judicial remand at Chanchalguda jail here since January 24. Their earlier two bail applications were rejected.
Making a plea for the bail, PW counsel Masthan Naidu Cherukuri said CID, Sebi and SFIO had already questioned the PW auditors. Their statements and records had been collected and that they would be open for questioning by them anytime.
The duo also surrendered their passports, he said, adding that the auditors themselves were taken for a ride by Satyam. "The bail should be considered in view of the changed circumstances."
Public prosecutor K Ajay Kumar said since the government had handed over the case to the CBI, the jurisdiction, in such case, would change. He would file a counter on February 24.
The judicial custody of the two auditors, Satyam founder B Ramalinga Raju, his brother Rama Raju and former chief financial officer Srinivas Vadlamani ends tomorrow.
The Satyam board, which meets here tomorrow (Saturday), is likely to discuss the Company Law Board approving the proposal to sell equity to a strategic investor and to increase the share capital. The CLB had also said the strategic investor should be selected through an open bidding process that will be overseen by a retired judge of the Supreme Court.
