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Satyam: Govt may hand over probe to CBI

February 16, 2009 17:12 IST
Last Updated: February 16, 2009 17:29 IST

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The Centre said on Monday it is looking into Andhra Pradesh government's demand for handing over the Rs 7,800-crore (Rs 78-billion) Satyam [Get Quote] scam case to the Central Bureau of Investigation.

The country's biggest ever corporate scam, currently being probed by the Serious Fraud Investigation Office in Hyderabad, is expected to be discussed in the Rajya Sabha on Tuesday, corporate affairs minister Prem Chand Gupta told PTI.

"Yes, the government is considering it (handing over the case to CBI)," Gupta said when asked whether the government would consider the Andhra Pradesh government's demand of transferring the case to CBI.

Gupta said the government is open to all options in the Satyam scam case.

On January 7, B Ramalinga Raju, promoter of Satyam, had confessed of the Rs 7,800-crore fraud and accepted that he had cooked company's account books and inflated profits over the last several years.

Following the confession, the government had superceded the board of the IT major and had ordered an SFIO investigation into Satyam and its subsidiaries.

More than 300 entities related to Satyam and the Raju family are also being probed by the SFIO team.

Under fire from the opposition for allegedly going soft in the probe, the Andhra Pradesh government had written to Prime Minister Manmohan Singh to transfer the case to CBI.

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