US SEC officials meet Satyam Board
In a significant development in Satyam fraud case, the US Security Exchange Commission (SEC) officials today met the Satyam Board members and apprise themselves with the case progress, sources said today.
By PTI |
HYDERABAD: In a significant development in Satyam fraud case, the US Security Exchange Commission (SEC) officials today met the Satyam Board members and apprise themselves with the case progress, sources said today.
When contacted the Satyam officials, they confirmed the meeting between the SEC and Satyam Board.
"At this state the SEC can only acquaint itself with the nature of fraud and the case progress," an official, who did not want to be identified, told reporters.
Satyam is an NYSE listed company. Meanwhile, the SEBI officials who are questioning former boss of Satyam B Ramalinga Raju at Chanchalguda jail is concentrating mainly on statements of records "which helped in fudging the accounts to raise its share price," sources said.
When contacted the Satyam officials, they confirmed the meeting between the SEC and Satyam Board.
"At this state the SEC can only acquaint itself with the nature of fraud and the case progress," an official, who did not want to be identified, told reporters.
Satyam is an NYSE listed company. Meanwhile, the SEBI officials who are questioning former boss of Satyam B Ramalinga Raju at Chanchalguda jail is concentrating mainly on statements of records "which helped in fudging the accounts to raise its share price," sources said.
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