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Kiran Karnik appointed Satyam board chairman
PC Gupta, Minister, Corporate Affairs said Kiran Karnik has been appointed as Chairman of Satyam board. He also said that the SFIO probe is extended to 325 companies and 25 individuals related to Satyam. Pricewaterhouse Bangalore will also be probed by SFIO, he added.
PC Gupta, Minister, Corporate Affairs said Kiran Karnik has been appointed as Chairman of Satyam board. He also said that the SFIO probe is extended to 325 companies and 25 individuals related to Satyam. Pricewaterhouse Bangalore will also be probed by SFIO, he added.
He believes that the probe is heading in the right direction and will definitely have an outcome. "There are no issues over stake sale by Satyam executives and there is nothing wrong in bulk share sale by new Satyam CEO."
Here is a verbatim transcript of PC Gupta's comments in a press conference. Also watch the accompanying video.
The SFIO investigation in the case of Satyam was extended to Maytas property and infrastructure. We have extended it now to 350 entities more and out of those, there are 325 companies and about 20-25 individuals.
We have covered PwC Bangalore under SFIO investigation. The 325 companies are related to Satyam and Raju group and SFIO would look into the linkages between all these companies and all the individuals, their role and divergence of funds and other related issues.
