GOVERNMENT OF INDIA
Ministry of Corporate Affairs
STARRED QUESTION NO 136
TO BE ANSWERED ON 13.07.2009
Investigation into Satyam Fraud Question.
Will the Minister of CORPORATE AFFAIRS be pleased to state:-
(a)the present status of investigations into the Satyam Computer Services Ltd. fraud;
(b)the exact amount of money diverted abroad by the main accused and how that is proposed to be retrieved and ploughed back into the original company’s assets;
(c)whether Government has got any clues about similar frauds in other big corporate houses in the country; and
(d) if so, the details thereof and the action proposed in each case?
THE MINISTER OF CORPORATE AFFAIRS
(a) to (d): A statement is laid on the Table of the Rajya Sabha.
STATEMENT REFERRED TO IN REPLY TO PARTS (a) TO (d) OF RAJYA SABHA STARRED QUESTION NO. 136 FOR 13.07.2009 REGARDING INVESTIGATION INTO SATYAM FRAUD:
(a). The report of investigation into the affairs of Satyam ordered by the Central Government under section 235 of the Companies Act, 1956 has been received from the Serious Fraud Investigation Office (SFIO). The Central Bureau of Investigation (CBI) has also conducted its investigation as to the criminal liability arising from the events relating to Satyam, and further investigations are in progress, including in regard to diversion of funds, misappropriation and siphoning of monies from the company. Action under law is now being taken to prosecute those found involved on the basis of these investigations, alongwith appropriate action by various other regulatory bodies /agencies.
(b). This aspect is under investigation at present.
(c). Satyam scam is an aberration and the events are specific to the Company in question. No other scam of this nature has come to notice since then.
(d). Does not arise.