Rediff India Abroad
 Rediff India Abroad Home  |  All the sections

Search:



The Web

India Abroad




Newsletters
Sign up today!

Get news updates:
  


Home > India > Business > PTI > Report

   Discuss   |      Email   |      Print   |   Get latest news on your desktop

Investors' body to file complaint against Satyam

January 08, 2009 13:09 IST

National Association of Small Investors, a registered NGO, said on Thursday it will file a complaint against scam-hit software exporter Satyam Computer Services [Get Quote] for 'cheating shareholders and investors'.

"This is a financial attack on the country. We are filing a complaint against Satyam with the economic offences department for cheating the shareholders and investors," Nasi president Pradeep Bhavnani told PTI.

Many members of the association, who had bought shares of the IT firm at Rs 540 some four months back, had suffered heavy losses when the scrip crashed to Rs 39 on Wednesday, he said.

"We are writing to the economic offences department to investigate the matter and punish the auditors, including PricewaterhouseCoopers," Bhavnani said.

Hinting that the Satyam scam is much more than meets the eye, he said, "I am sure there is insider trading and it will come out."



© Copyright 2008 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

   Email   |      Print   |   Get latest news on your desktop



Advertisement
Advertisement