NASI to file complaint against Satyam with EOD

MUMBAI: National Association of Small Investors (NASI), a registered NGO, said on Thursday it will file a complaint against scam-hit software exporter Satyam Computer Services for "cheating shareholders and investors".

"This is a financial attack on the country. We are filing a complaint against Satyam, with the Economic Offences Department (EOD), for cheating the shareholders and investors," NASI president Pradeep Bhavnani said.

Many members of the association, who had bought shares of the IT firm at Rs 540 some four months back, had suffered heavy losses when the scrip crashed to Rs 39 on Wednesday, he said.

"We are writing to the Economic Offences Department to investigate the matter and punish the auditors, including PricewaterhouseCoopers," Bhavnani said. Hinting that the Satyam scam is much more than meets the eye, he said, "I am sure there is insider trading and it will come out."