Satyam’s Ex-CFO Vadlamani Srinivas is under the spotlight now, and not for the right reasons. According to various businesss analysts and IT leaders, a scam of such a large proportion (7800 cr.) does not seem to be possible without the CFO having any knowledge about it. The CFO who soon gave his resignation after Satyam’s co-founder Ramalinga Raju tendered his fraud scam letter. Soon after the Raju brothers were taken i nto arrest, the Satyam CFO too was arrested.

Srinivas was arrested on the charges that have been slapped on the Raju brothers also — criminal conspiracy, cheating, use of forged documents, forgery and criminal breach of trust–under the Indian Penal Code, he said.

Earlier Srinivas was produced before a magistrate. The police will file an application before the court tomorrow to seek Srinivas’s custody, according to CID sources.

Srinivas will remain in judicial custody till January 23, according to lawyer Bharat Kumar. His bail application will be filed tomorrow.

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