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Court reserves order in releasing accused in Satyam case
February, 10th 2010

A local court today reserved its orders for tomorrow on a memo filed by Talluri Srinivas, one of the accused in the multi-crore Satyam fraud case, seeking immediate release from a jail here.

Srinivas, former auditor of Price Waterhouse, filed the memo in the XIV Additional Chief Metropolitan Magistrate court and sought his release as the Supreme Court had already granted him bail on February 4 in one case related to Satyam fraud.

But, as per the prosecution, Srinivas was involved in another case relating to Income Tax offences for which the CBI has already filed the chargesheet.

Defence counsel Hanumanth Rao, during the hearing of the case, contended that the bail granted by the apex court is applicable to his client in spite of any number of chargesheets or cases pending against Srinivas.

Objecting the memo, the CBI counsel said the bail was granted in the first case.

The Supreme Court bail order did not reflect the second case in which Srinivas has also been chargesheeted by the CBI over filing of "false" income tax returns along with Satyam founder B Ramalinga Raju and others.

"They (defence) have to file fresh application for bail with regard to the another chargesheet," the CBI counsel argued.

After hearing the arguments, the magistrate reserved his orders till tomorrow.

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