Khurshid said SFIO's investigation was limited to alleged corporate law violations by Satyam founder B Ramalinga Raju, and others.
Maytas had moved the court challenging termination of its contract by Utility Energytech and Engineers last month. Maytas had also sought a temporary stay to the termination, but Justice Anup Mohta of Bombay High Court last week refused to pass any interim order.
The CBI, which has already filed its chargesheet, is preparing to file a supplementary chargesheet. It has time till the end of this month for this.
Satyam founder B Ramalinga Raju, who is now housed in the Chanchalguda central prison, is suffering from cardiac-related health problems.
The ambitious plans of another charity of the Satyam founder, the Health Management Research Institute, in partnership with the Andhra Pradesh government, are under scrutiny.
A Hyderabad court on Wednesday posted the multi-crore Satyam Computer fraud case to February 17 for hearing on framing charges against the prime accused B Ramalinga Raju and nine others.
The CBI has charged Satyam founder B Ramalinga Raju, his brother B Rama Raju and eight others with creating fictitious customers and siphoning off Rs 430 crore (Rs 4.30 billion) from the IT firm.
The CBI had, on April 25, appealed to the XIV additional chief metropolitan magistrate to allow the agency to conduct forensic tests on the trio as a step-in-aid in investigation.
The apex court, however, agreed to give an early hearing to their pleas and issued notice to CBI for November 3, after the Diwali break.
Former Chief Financial Officer Vadlamani Srinivas has also filed a bail plea in the court.
For the first time since its founder admitted to falsifying the company's accounts, Satyam Computer will come out with its financials for fiscal years 2008-09 and 2009-10 on September 29.
The Supreme Court bench comprising Justice Deepak Verma and Justice Dalbeer Bhandari issued notices to the five accused on a petition filed by CBI.
The Fourteenth Additional Chief Metropolitan Magistrate has granted permission to the Enforcement Directorate, a central government wing, to record the statements of the accused in the Satyam scam from June 9 to 16.
Maytas Infra, the listed company promoted by the family of Satyam founder B Ramalinga Raju, is looking to rationalise its employee strength. Consequently, there would be some job cuts and inductions.
Ramalinga Raju, his brother Rama Raju and six other accused were produced before the in-charge judge of XVI additional chief metropolitan magistrate, subsequent to which their judicial custody was extended till June 10. Satyam accused are lodged in Hyderabad's Chanchalguda jail.
Disgraced Satyam founder B Ramalinga Raju, his brother Rama Raju, and IT firm's former CFO Vadlamani Srinivas moved their bail applications in the IV Additional Metropolitan Sessions judge in the Nampally criminal court complex. Their bail pleas were rejected by the designated court for CBI (XIV Additional Chief Metropolitan Magistrate).
Planning Commission Deputy Chairman Montek Singh Ahluwalia had misgivings on how and why the chief minister could raise so much money by selling government land, but eventually cleared the annual plan that was promised to be funded by a 32 per cent increase in the state's tax revenues. He put on record his doubts in a 3-page communication to the prime minister on April 23, 2008, a copy of which is with rediff.com
'P K Madhav, the whole time director and chief executive officer of Maytas Infra Ltd, tendered his resignation from directorship as well as CEO of the company owing to personal reasons,' Maytas said in a filing to BSE. Maytas Infra, promoted by the family of disgraced Satyam founder B Ramalinga Raju, has been hitting headlines ever since the IT firm announced a deal to acquire the company, which was later called off following strong opposition by investors.
Startled by the disclosure of fudging of accounts by Satyam founder B Ramalinga Raju, market regulator Sebi has ordered a probe into share market operations and inspection of the IT company.
Satyam founder B Ramalinga Raju's confession letter on January 7 also refers to a net amount of Rs 1,230 crore (Rs 12.3 billion) arranged for Satyam by the 37 companies.
"During this month, the SFIO will begin the prosecution on those or those areas of company laws that the SFIO is expected to and have been authorised to proceed with," Corporate Affairs Minister Salman Khurshid told a press conference in New Delhi.
Sebi has also allowed Rama Raju and others, including Vadlamani Srinivas and G Ramakrishna, to inspect the documents available with the regulator on October 14 and has fixed the date for personal hearing on November 7. The other noticees in the matter include Ramalinga Raju and V S Prabhakara Gupta.
Official sources said while about 285 property were attached by the ED through an order in August, the agency is now probing the financial trail of many other properties which have been linked to Raju, his relatives and others.
The company failed to achieve financial closure for the Rs 12,100-crore (Rs 121 billion) metro project in March and had sought extension of the deadline by another six months. The decision on it is pending with the state government. Doubts were also expressed about its capabilities to execute the Rs 1,650-crore (Rs 16.5 billion) Machilipatnam project.
Like a dutiful Indian wife she was unflinching in her support for her husband, Satyam founder B Ramalinga Raju. And on Wednesday, she again showed her unwavering faith by bailing him out.
CBI on Wednesday announced that it will set up a multi-dimensional team to probe the 'unique' fraud, which involves Satyam founder B Ramalinga Raju and his family members. While the spokesman remained evasive to questions on when the cases would be registered, CBI sources said records and other materials associated with the probe was being taken over by the agency.
The second charge sheet may highlight some more financial transaction made by Raju and some of his associates.
"Now if there is somebody who knows about the confession (and) wants to buy (or sell) at price 'X', should we as a regulator be coming in the way?" C B Bhave, chairman of Securities and Exchange Board of India, told PTI. His first reaction on receipt of Raju's e-mail was, however, that of disbelief.
The hammering in the stock prices of the company, that was promoted by the family of disgraced Satyam founder B Ramalinga Raju started from January 7, the day Raju made public an about Rs 7,800-crore (Rs 78-billion) fraud. Shares of the company fell five per cent immediately after opening on the BSE and the National Stock Exchange and witnessed lows of Rs 117 on BSE and Rs 116.75 on NSE. On the volume front only 525 shares were traded on the bourses.
Special court will announce judgement in Satyam case on Dec 23.
The merger process started four years ago, with the acquisition of Satyam in April 2009.
Raju pleaded for leniency citing his philanthropic activities.
The Special Court on Monday has sentenced erstwhile Satyam chairman B Ramalinga Raju and his brother Rama Raju to six months imprisonment for violating provision of the Companies Act.
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