Action against Satyam Computers

Posted on    09 March 2010

Action against Satyam Computers

The Government has informed Lok Sabha that the successor in interest to the Satyam Computer Services Ltd. brought to the notice of Securities and Exchange Board of India (SEBI) that Securities and Exchange Commission (SEC) of the United States of America, vide its letter dated September 17, 2009 offered it the opportunity to make a Wells Submission to a notice from the Commission for action against the company.

 

In reply to a question Shri Salman Khirshid, Minister for Corporate Affairs, informed the House that the Chairman, SEBI, has drawn the attention of Chairman, SEC, USA, to the various steps taken by the Government of India and Enforcement Agencies in India including SEBI regarding action against the wrongdoers and simultaneously for protecting the company and its investors. SEC has also been requested by SEBI to keep in mind the interest of both the Indian and American investors in the company.



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