Gupta meets SEBI, finmin officials; promises strictest action
Corporate Affairs Minister, Prem Chand Gupta, said govt will take strictest possible action in the Satyam issue.
By PTI |
NEW DELHI: Corporate Affairs Minister, Prem Chand Gupta, on Thursday said the government will take the strictest possible action in a coordinated manner to deal with the situation arising from the admission of fraud by the founder-chairman of Satyam Computer, B Ramalinga Raju.
"I had a meeting with the senior officials from the Ministry of Finance, SEBI, the Ministry of Law and Justice and the Ministry of Information and Technology. We had a joint meeting and we are taking coordinated action in a very firm manner and there would be no laxity on anybody's part," he said.
Noting that the market regulator Sebi and the Registrar of Companies (RoC) are already on the job, the Minister said, "as far as the auditors are concerned we have asked ICAI to take strictest possible action against the erring auditors."
While a team of Sebi has already reached Hyderabad, the headquarters of Satyam Computer, the government has asked the RoC to look into the matters concerning the erring company.
"I had a meeting with the senior officials from the Ministry of Finance, SEBI, the Ministry of Law and Justice and the Ministry of Information and Technology. We had a joint meeting and we are taking coordinated action in a very firm manner and there would be no laxity on anybody's part," he said.
Noting that the market regulator Sebi and the Registrar of Companies (RoC) are already on the job, the Minister said, "as far as the auditors are concerned we have asked ICAI to take strictest possible action against the erring auditors."
While a team of Sebi has already reached Hyderabad, the headquarters of Satyam Computer, the government has asked the RoC to look into the matters concerning the erring company.
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