Business Daily from THE HINDU group of publications
Thursday, Jan 08, 2009
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Business Daily from THE HINDU group of publications Thursday, Jan 08, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Corporate Governance Info-Tech - Software Government - Politics
“Everything that needs to be done to protect the careers of employees, and also protect stakeholders and investors will be done.” 
Dr Rajasekara Reddy Our Bureau New Delhi, Jan. 7 Terming the Satyam episode as “mind-boggling,” the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, today said he has ordered an inquiry into the criminal aspects of the incident. “The figures involved are mind-boggling …he (Satyam promoter, Mr Ramalinga Raju) has admitted to fudging of accounts...I have asked Crime Branch-Crime Investigation Department to hold a preliminary inquiry and look at the criminal aspects of the entire episode,” Dr Reddy told mediapersons here. He said that while the State had not awarded any major project to Satyam, the Hyderabad Metro project has been awarded to Maytas-led consortium. “I have asked the Chief Secretary to look into all aspects of the metro project and other projects where Maytas is involved, and we will decide on it later,” he said. Job protectionThe Chief Minister said that protecting the jobs of Satyam employees was important. “Everything that needs to be done to protect the careers of employees, and also protect stakeholders and investors will be done,” he assured. Dr Reddy clarified that he had never given a clean-chit to Satyam. “I had only said that attempt by Satyam to take over Maytas was an issue between the two companies and State Government had no role in it,” he said. Lack of relevant info made me quit: Dham Satyam promoters’ stake down to 5.13 pc World Bank to keep out Satyam for 8 years We need your support for task ahead, Satyam chief tells staff Satyam: When form overrides substance More Stories on : Corporate Governance | Software | Politics | Satyam Computer Services Ltd
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