Market watchdog meets minister over Satyam scam

January 20th, 2009 MUMBAI - India's markets watchdog Wednesday decided to tighten the disclosure norms for company promoters who pledge their shares with lenders, finding lapses during investigations into the Rs.70-billion scam in Satyam Computer Services. 'The founders must disclose shares with lenders,' C.B.

January 16th, 2009 MUMBAI - The Rs.70 billion ($1.4 billion) financial scam in Satyam Computer Services is an isolated case and does not tarnish the image of the Indian corporate sector in any way, Commerce Minister Kamal Nath said here Saturday. 'India Inc has established its credentials.

February 18th, 2009 NEW DELHI - The government does not intend to bail out the scam-hit Satyam Computer Services as the company has 'adequate assets' and can bounce back if run professionally, Minister for External Affairs Pranab Mukherjee said here Thursday. 'Let me make it clear that the government has no intention to bail out the company.

February 5th, 2009 NEW DELHI - Noted technocrat Kiran Karnik was Friday named chairman of the scam-hit Satyam Computer Services even as the probe by the Serious Fraud Investigation Office was extended to 325 more companies associated with the beleaguered firm. Corporate Affairs Minister P.C.

January 20th, 2009 MUMBAI - India's markets watchdog Wednesday decided to tighten the disclosure norms for company promoters who pledge shares with lenders, finding lapses during its probe into the Rs.70-billion Satyam Computer Services scam. 'The founders must disclose shares with lenders,' C.B.

January 20th, 2009 NEW DELHI - The government has taken no view on the proposals from domestic and international companies to buy the fraud-hit Satyam Computer Services and left the decision to its new board, Corporate Affairs Minister Prem Chand Gupta has said. 'There are many corporate houses, they are interested,' Gupta told reporters on being asked if the government was interested in hiving off the beleaguered firm to engineering and construction giant Larsen and Toubro.

January 20th, 2009 NEW DELHI/MUMBAI - The Company Law Board Wednesday asked the former founder of Satyam Computer Services B. Ramalinga Raju and two others to furnish their bank account and asset details while barring them from selling or pledging the company's shares till further notice.

January 8th, 2009 KOLKATA - West Bengal government will give 25 acres land to scam-tainted IT company Satyam Computers in the state if they want it, Information Technology (IT) Minister Debesh Das said here Friday. 'If they want it, we will definitely give it.

January 14th, 2009 NEW DELHI - The government will not intervene in the functioning of Satyam Computer Services, Minister of State for Industrial Policy and Promotion Ashwini Kumar said here Thursday. Beleaguered Satyam's former chairman B.

February 11th, 2009 NEW DELHI - The Satyam scam was a 'one-off, unfortunate case of failure of corporate governance', Minister for External Affairs Pranab Mukherjee said here Thursday. Addressing a meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI), Mukherjee said: '(Satyam) was an unfortunate case of failure of corporate governance… It was a one-off case.

January 8th, 2009 HYDERABAD - The crime branch of the Andhra Pradesh police Friday began probe into the Rs.70-billion accounting fraud in the city-based IT service firm Satyam Computer Services, even as the market regulator continued its probe for the second consecutive day and summoned before it the company's former chairman. The Criminal Investigation Department's (CB-CID) team checked records at Satyam's headquarters here and spoke to associates of disgraced former chairman B.

January 7th, 2009 MUMBAI - Scam-tainted Satyam Computer has been de-listed by the Bombay Stock Exchange (BSE) with effect from Jan 12, the BSE said in a statement Thursday. The scrip closed at Rs.39.95 Wednesday after a 77.69 percent freefall after the company's founder-chairman B.

January 13th, 2009 NEW DELHI - The newly appointed three-member board of fraud-hit Satyam Computer Services Wednesday appointed Deloitte and KPMG as the new joint auditors for the company in place of PricewaterhouseCoopers. The development was confirmed by Deepak Parekh, one of the board members of the beleaguered firm, which is going through turbulent times following the admission of a Rs.70 billion ($1.43 billion) fraud by its founder and former chairman B.

January 19th, 2009 NEW DELHI - The Rs.70-billion accounting fraud at Satyam Computer will not mar the image of corporate India abroad, Minister for Science and Technology Kapil Sibal said here Tuesday. 'There are a lot of shining stars in India's corporate world who will ensure that the flag of India keeps flying high,' said Sibal.

January 19th, 2009 NEW DELHI - The IT bellwether Satyam Computer Services, embroiled in a Rs.70 billion ($1.7 billion) financial scam, has received buyout offers from both domestic and foreign firms, its new board member Tarun Das said Tuesday. 'Satyam has got enormous fixed, human resources and technology assets.