Satyam scam rocks Rajya Sabha

The Satyam scam generated much heat in the Rajya Sabha today, but the government sidestepped the demand for ordering a joint parliamentary committee probe into the matter. The Central Bureau of Investigation is now handling the fraud case of the country's fourth largest IT services company.

The Satyam scam generated much heat in the Rajya Sabha on Tuesday, but the government sidestepped the demand for ordering a joint parliamentary committee probe into the matter.

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For the first time in recent memory, the issue took up the entire Question Hour, at the conclusion of which chairman Hamid Ansari summoned the leaders of all parties for a meeting to discuss having a Calling Attention Motion on the issue in the house.

B Ramalinga Raju had January 7 admitted a Rs 70 billion fraud in Satyam Computers, the country's fourth largest IT services company. While resigning as the chairman, he confessed that he inflated company's profits over the last several years. His brother B Rama Raju also quit as the company's executive director.

The central government has now handed over the investigations into the Satyam fraud to the Central Bureau of Investigation (CBI).