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'We weren't engaged in Maytas Properties' valuation': E&Y

January 17, 2009 13:33 IST

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Global consultancy firm Ernst & Young iterated on Saturday that it has not valued Maytas Properties, a company promoted by the family of disgraced founder of Satyam [Get Quote], Ramalinga Raju, in the aborted $1.6-billion deal.

"As we have stated before...we were not engaged in the valuation of Maytas Properties, "an E&Y spokesperson said.

The company was reacting to reports based on the December 16 Satyam board meeting minutes that says Ernst & Young had done the valuation of Maytas.

On January 11, E&Y had said in a statement that 'we would like to again clarify that we were not engaged by Satyam Computer Limited or any of its subsidiaries to conduct the valuation of Maytas Properties and learnt of the proposed Maytas/Satyam transaction after it was announced publicly."

The firm had also said that it had not been the internal auditor for Satyam Computer Services Limited.

E&Y, however, is the statutory auditor of Maytas Properties, whose acquisition by Satyam Computer was aborted following protests from investors.



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