This paper proposes a novel scheme for the spatial rendition of audio in a teleconferencing situation. Several researchers have examined and established that there is a substantial improvement in intelligibility by the use of spatialization in such a multitalker environment, over monaural rendition. We provide experimentally obtained values for the Minimum Audible Angle (MAA) that provides release from masking in a speech over speech masking scenario. The results clearly indicate that the MAA varies with the azimuth. This dependency on azimuth has been utilized to improve the intelligibility of speech in a given teleconference within a limited auditory space. The advantage of such a scheme over simple auditory space division is demonstrated by another set of perceptual experiments.