Govt hands over Satyam fraud case to SFIO

NEW DELHI: The ministry of corporate affairs on Tuesday ordered investigation into the Satyam scandal by the Serious Frauds Investigation Office (SFIO), a multi-functional investigating agency that has representations from the ministry of home affairs, Enforcement Directorate and the Intelligence department. (Watch)

The government's decision came on the basis of a report it received from the Registrar of Companies in Hyderabad, that was assigned the work of inquiring into the affairs of Satyam Computer Services. "The SFIO will submit its report in 3 months," Minister for Corporate Affairs Prem Chand Gupta said.

The RoC had inspected the books of accounts and collected evidence against Satyam and its 8 group companies. Mr Gupta, however, refused to share any specific details of the RoC report.