Govt must act fast to punish the guilty in Satyam scam: Advani | india | Hindustan Times
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Govt must act fast to punish the guilty in Satyam scam: Advani

Senior BJP leader LK Advani says the government must act quickly to punish the guilty in the Rs 7,800-crore financial fraud in IT firm Satyam.

india Updated: Jan 10, 2009 16:51 IST

Senior BJP leader Lal Krishna Advani on Saturday said the government must act quickly to punish the guilty in the Rs 7,800-crore financial fraud in IT firm Satyam.

"Regarding the recent IT scam, the government needs to be alert on such frauds and should act fast to punish the guilty," Advani, who was in Ahmedabad to attend a Jain International Trade organisation function said.

IT firm Satyam Computer founder and Chairman B Ramalinga Raju had three days ago resigned from the company's board while admitting to have committed a fraud of over Rs 7,000 crore over the years. A happening which has raised doubts about corporate governance in the country. Satyam's disgraced founder Raju and his brother Rama Raju were arrested by the Andhra Pradesh police last night on different charges including forgery and cheating and are likely to be interrogated by various state agencies in connection with the scam.

Satyam Computer's project to set up an IT Park in Gujarat is also likely to be abandoned after the revelations.