The capital markets regulator, Securities and Exchange Board of India, expects a preliminary outcome of the Sebi probe on the Satyam scam by the end of February.
“We expect some kind of preliminary conclusion of the investigations towards the end of this month,” said a senior official with Sebi. “The investigations involve gathering information and looking into greater details of the transactions done by
the company over the several years, which will take some time.”
As Sebi arrives at some sort of conclusion it will hand over the findings of the probe to the criminal investigating agencies and that is where Sebi’s role will get over.
The regulatory authority expects to get details on the kind of fraud and details of any more persons if involved. “It would be helpful and will lead to getting deeper details into the probe,” said the official.
The official said that the investigating teams — Serious Fraud Investigation Office (SFIO), Sebi, Registrar of Companies and Enforcement Directorate — are working closely with each other by way of sharing papers and information.
Additionally, four auditors from Comptroller and Auditor General of India have been despatched to assist SFIO.