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Fraud investigation office to look into case
Special Correspondent
NEW DELHI: Warning of stern action under the law against the guilty, the government on Wednesday announced that the case of “financial bungling” by Satyam Computer Services would be referred to the Serious Fraud Investigation Office (SFIO) after verification of “facts” by the Registrar of Companies (RoC) in Hyderabad. The RoC has been asked to submit its report by January 14.
At a press briefing on the confessional letter by Satyam’s erstwhile Chairman, B. Ramalinga Raju, to the company’s board, the SEBI chairman and stock exchanges on the financial wrong-doing over the years, Minister for Corporate Affairs Prem Chand Gupta said: “We have received communication from Ramalinga Raju. Facts need to be verified. We have communicated the message to the Registrar of Companies in Hyderabad and given them a deadline of January 14, by when we will have all the information.”
Mr. Gupta said the role of Satyam’s company secretaries, auditors and finance officials was also being looked into.
Raju's statement to the Board
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