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SFIO begins searches at Satyam office

business Updated: Jan 14, 2009 22:44 IST

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The Serious Fraud Investigation Office (SFIO), which was handed over the probe into the Satyam fraud case, today began search operations at the company's corporate office at Madhapur here.

An eight-member team of SFIO from Delhi conducted searches at the Satyams office here, reliable sources said.

Meanwhile, T R Prasad, one of the independent directors of the disbanded Satyam board, today said he was open for interrogation by any investigation agencies. His comments came in the wake of media reports that he would be questioned on Satyam scandal.

Official sources said another former independent director and former ISB dean M Rammohan Rao will be shortly quizzed by the Crime Investigation Department of Andhra Pradesh.

The CID it is learnt is also likely to question Satyam's interim CEO Ram Mynampati after his return from US where he has gone to meet the company's clients.

The Ministry of Company Affairs yesterday officially handed over the case to SFIO to further probe into the books of accounts of Satyam.

SFIO was handed over the case after receiving a preliminary report from the Registrar of Companies (RoC) in Hyderabad.

The SFIO has been assisting the RoC (Hyderabad) for the last few days in search and seizure operations at Satyam's offices in different parts of the city after the former chairman of the IT major B Ramalinga Raju confessed fudging the company accounts to the tune of over Rs 7,800 crore.