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Feb 7, 2009

Satyam case: SFIO to probe 325 companies, 25 individuals

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Serious Fraud Investigation Office (SFIO) will probe 325 companies and about 25 individuals connected with the scam-hit Satyam Computer Services' arrested founder chairman Ramalinga Raju said the Minister for corporate affairs Prem Chand Gupta on Friday.

The SFIO--a multi-disciplinary agency being comprised of officers from the revenue department, the Income Tax department, Enforcement Directorate, Intelligence Bureau and the CBI. The agency has been investigating the Satyam fraud.

The role of other companies is to be verified by the agency. On the other hand the detention of Raju brothers by the SEBI was concluded on Friday. According to media reports, there were many evidences, those were enough to nail the Satyam computers former chairmen.

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