Satyam probe finally handed over to CBI

NEW DELHI: The government on Monday transferred the investigation of the Satyam scam to the Central Bureau of Investigation (CBI), a move which comes five days after the Andhra Pradesh government asked the Centre to transfer the investigation from the state Crime Investigation Department (CID) to the central probe agency.

With this, the whole investigation in the Satyam scandal comes within the purview of four centrally-controlled agencies. Serious Fraud Investigation Office (SFIO), Enforcement Directorate (ED) and capital markets regulator SEBI are the three enforcement agencies already involved in the investigation of the case. CID, which was the other investigating body in the case, works under the commands of the state government.

CBI���s role will be limited to that part of the probe which relates to offences under the provisions of the Indian Penal Code.



���The Satyam case is being investigated under various laws such as the Companies Act, Foreign Exchange Management Act (FEMA), SEBI Act and IPC. CBI���s investigation will comprise that part of the investigation which has been instituted under IPC,��� a government official said.

He added that criminal investigation, which is done under the provisions of IPC, is a state subject and was hence initially taken up by the Andhra Pradesh CID. The official further said the government was not concerned about the inter-play of investigations by all the enforcement agencies acting in the case, saying all of them were acting within their well-demarcated jurisdictions.

He, however, added that transferring the investigation may result in speedy judicial proceeding as the matter will now be taken up by specially-designated CBI courts.