Bhave, Gupta may meet PM on Satyam fiasco

Corporate Affairs Minister Prem Chand Gupta and SEBI Chairman CB Bhave, who met to discuss the developments in Satyam, are likely to meet Prime Minister Manmohan Singh in the evening.

Corporate Affairs Minister Prem Chand Gupta and SEBI Chairman CB Bhave, who met in New Delhi to discuss the developments in scam-hit Satyam, are likely to meet Prime Minister Manmohan Singh in the evening. Gupta had earlier said that there will be co-ordinated action against the tainted founder of Satyam Ramalinga Raju and others for their involvement in the Rs 7,800 crore financial fraud.

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Sources said that Bhave met Gupta to take stock of the situation and progress in the probe.

Asked whether they would be meeting Singh together, sources said they may.

Meanwhile, the 8-member team of SFIO, which was rushed from Delhi to Hyderabad to investigate into the scam, will submit its report within a week.

Raju, who was arrested on Friday by the Andhra Pradesh police, will be produced before the Magistrate on Saturday.