Min of Corp Affairs seeks registrar's report on Satyam

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Min of Corp Affairs seeks registrar's report on Satyam

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 co-ordinated action with Sebi after collecting all the relevant information.”

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » BSE | NSE 09/02/12

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."