Satyam - status as on 11.01.2009
I had last briefed you on 09.01.2009 about various actions being taken in the case of Satyam.india Updated: Jan 11, 2009 14:49 IST
I had last briefed you on 09.01.2009 about various actions being taken in the case of Satyam. You are aware that -
* Following the inquiry initiated by this Ministry in the case, the Registrar of Companies at Hyderabad has already seized voluminous documents from various premises of the company in close coordination with the officers of SEBI.
* The ministry had ordered inspection of eight companies of the Satyam group and a team of officers despatched from the Ministry has already started their work.
* The Ministry is working in close coordination with other regulatory authorities and Ministries, as also the State Government, which has led to commendable progress in the case.
I had also informed that the earlier Board of Directors of Satyam Computers Ltd. Was superseded by an order dated 9.1.2009 of the Hon'ble Company Law Board. The Order requires constitution of a fresh Board of the Company with not more than 10 persons of eminence as directors.