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PC Gupta, Minister of Corporate Affairs, said he expects expects Registrar of Companies’ report on Satyam on Thursday. He feels there is a need to examine role of auditors and directors. "We will take coordinated action with Sebi after collecting all the relevant information.”
"It is a complex issue. We have to also see what has been the role of board of directors, auditors and company secretary. So, accordingly once the things are clear then the proper action would be taken. It has to be seen what is the proper action, which can be taken.
Once the contents of the message is verified then a coordinated action together with Sebi would be taken. We have given them three week’s time and that is expiring tomorrow. Let us not presume something, we are verifying the contents of the message and once verification is done a proper action will be taken. Whatever stringent and strict actions that can be done lawfully will be done."
Also read:
Raju admits fraud; Satyam books inflated of Rs 5040cr
Consulting stock exchanges to decide course of action: Sebi
Satyam: Infy says outsourcing may be hit
See Satyam stock at Rs 10: Shankar Sharma
Outraged auditors see action from regulators ahead
Min of Corp Affairs seeks registrar's report on Satyam
LIC still confident about Satyam's potential as a Co
FICCI, Nasscom call for revamp of corp governance norms
B Ramalinga Raju’s letter to Board
Satyam: A cleverly crafted scam, says Udayan
Let’s fight together: Interim Satyam CEO to employees
Raamdeo Agrawal says fraud could be to tune of Rs 7k cr
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