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Satyam scam: Probe agency, RoC work in tandem
January 09, 2009 19:36 IST
A team of the government's Serious Fraud and Investigation Office on Friday reached Satyam Computer Services' [Get Quote] headquarters in Hyderabad in connection with a probe into the country's biggest ever corporate fraud, perpetuated at the tainted IT firm.
The team comprising advisors and inspectors from SFIO has gone to assist the officials of the Hyderabad registrar of companies, which is at present conducting investigations.
"SFIO is assisting the RoC Hyderabad in the probe. The team is lead by the RoC of that region but our officers of advisor ranks along with inspectors are assisting them," an SFIO official said in New Delhi.
"The team of SFIO and RoC is presently conducting inspection of eight Satyam related companies under section 209A of the Companies Act," the official informed further.
Minister of corporate affairs Prem Chand Gupta had on Wednesday directed the RoC Hyderabad to look into the Satyam issue and submit a preliminary investigation report by January 14.
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