Software Technology Parks also under scanner

NEW DELHI: The government���s ongoing investigation into the over Rs 7,000-crore accounting scandal in Satyam Computer Services may now extend to Software Technology Parks of India (STPIs) of Hyderabad, Chennai and Pune.

The probe, which is being conducted by multi-functional agency Serious Frauds Investigation Office (SFIO), has now turned its focus on filings of the disgraced company with STPI, a government official on conditions of anonymity told ET.

A lion���s share of Satyam���s reported $2.1 billion annual revenues came from units that were based in STPIs. STPI���s are mandated to conduct due diligence on every single export invoice raised by the units under its aegis. It maintains regular reports on their foreign exchange earnings on a monthly, quarterly as well as yearly basis.

Besides, a unit also has to file details of its expenditure of various heads such as employee salaries. The details that were filed by company with STPI could provide crucial leads to the SFIO, the official said.

The SFIO is a functionary of the ministry of corporate affairs, and includes officials from revenue, enforcement directorate, customs and intelligence as part of its investigating team. Satyam, which is the country���s fourth largest software exporter , is registered with STPIs in Hyderabad, Chennai and Pune.

With the government not ruling out the possibility of money being siphoned off from Satyam���s books by the company���s disgraced chairman Ramalinga Raju, the official said that the ongoing investigation will look into the various documents with details of company���s imports and exports that are available with the STPIs.

STPI���s promote software exports from India and provides infrastructure and statutory support to IT entities registered with them.