Too many agencies probing Satyam scam: BSE chairman

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.

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 13th, 2009 NEW DELHI - In a curious twist to the Satyam Computer Services fraud, its erstwhile auditors PricewaterhouseCoopers have said their opinion on the financials of the beleaguered company may be rendered 'inaccurate and unreliable'. In a letter to the new board of Satyam, the audit firm said the statement by the former chairman of the company 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.

April 20th, 2009 HYDERABAD - Tech Mahindra, the new owner of scam-hit Satyam Computer Services, will announce an 'open offer' Tuesday to obtain an additional 20 percent stake in the software major, Satyam chairman Kiran Karnik said here Monday. Tech Mahindra, which deposited Rs.2,910 crore (Rs.29.1 billion) in an escrow account Monday for a 31 percent stake in Satyam, will see its total holding increase to 51 percent after the open offer.

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.

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.

February 20th, 2009 NEW DELHI - The Central Bureau of Investigation (CBI) Friday registered a case against disgraced Satyam founder B. Ramalinga Raju for the Rs.70 billion fraud and constituted a multi-disciplinary investigation team (MDIT) for the probe.

January 13th, 2009 NEW DELHI - In a curious twist to the Satyam Computer Services fraud, its erstwhile auditors PricewaterhouseCoopers (PwC) have said their opinion on the financials of the beleaguered company may be rendered 'inaccurate and unreliable', even as the newly appointed three-member board Wednesday appointed Deloitte and KPMG as the new joint auditors. In a letter to the board of Satyam, PwC said the statement by the former chairman of the company B.

January 23rd, 2009 HYDERABAD - Two officials of PricewaterhouseCoopers, the firm that audited fraud-hit Satyam Computer Services' books, were arrested Saturday for their alleged role in the irregularities. The Crime Investigation Department (CID) of the Andhra Pradesh police, probing the Rs.70 billion (Rs.7,000 crore/$1.43 billion) fraud in the IT bellwether, arrested chief relationship partner S.

January 9th, 2009 NEW DELHI - India's capital market regulator C.B. Bhave met Corporate Affairs Minister P.C.

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 14th, 2009 HYDERABAD - Market regulator Securities and Exchange Board of India (SEBI), probing the Rs.70-billion ($1.43 billion) fraud in Satyam Computer Services, may finally get an opportunity to grill the company's disgraced former chairman B. Ramalinga Raju when the matter comes up before a court here Friday.

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.

January 14th, 2009 NEW DELHI - The government has no plans to unveil a bailout package for fraud-hit Satyam Computer Services and the company's new board will decide its future course of action, Minister of State for Industry Ashwani Kumar has said. 'This government is not going to either directly or indirectly subsidise the wrongdoing and fraud in Satyam,' Kumar told reporters on the margins of an international conference on petroleum sector here Thursday.