Sudarshan had made the statement under section 164 CrPC against Reddy. Reddy also offered to face Deloitte representatives in front of CBI to iron out misconceptions.

In a letter to the CBI Reddy on Friday said here: “The statement reported to have been made by  Sudarshan before a Magistrate was selectively leaked by some vested interests to the Media openly opposed to us and the statement reported to have been made by Sudarshan is absolutely false and is obviously under pressure from some people with vested interests, who are losing no opportunity to somehow tarnish our image and implicate us in one case or the other”.

The statement in question was deposed before a Railway Magistrate under Section 164 of Cr P C that they (Deloitte) were compelled to increase the valuation of Jagati Publications from Rs 2,500 cr to Rs 3,500 crores under pressure from Vijay Sai Reddy.

The auditor argued that such statements are not made available to even the accused, by the Prosecution Agency. “However, the contents of such statements purported to have been made before the  Magistrate have found their way into the newspapers run and managed by media houses, which have a corporate and business rivalry with Jagati Publications,” he pointed out.

Jagati publication’s auditors said that even though they were in no position to dominate  Sudarshan for fudging valuations, the enterprise value of Jagati publications at that point of time was of Rs 3,900-4000 crores and the value reported by Sudarshan at around Rs 3050 crores, was far lesser than their valuation and yet the report was accepted
Meanwhile, Deloitte in a statement observed that it was not proper for them to comment on matters concerning pending investigations.