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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.
Vadlamani Srinivas, Satyam Computer's Chief Financial Officer, who resigned a day after the fraud came to light and his resignation is yet to be accepted, was first picked up in the evening yesterday for questioning and was later formally placed under arrest, IG (CID) V S K Kaumudi said.
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.
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