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Mumbai, Jan. 10

The New York Stock Exchange (NYSE) announced on Saturday that trading in Satyam’s ADRs may resume on Monday (January 12). However, it also said it can suspend trading in a security if it believes that continued dealing in that particular scrip is “not advisable”. NYSE had suspended trading of the ADRs from Wednesday, January 7, after the company’s Chairman confessed to an accounting fraud in his company. The suspension came before Wednesday’s commencement of trade on NYSE, since New York is 11 hours behind India time. The Satyam ADR on January 6 was trading at $9.35, four per cent up from the previous day, on the exchange. NYSE’s statement said the exchange is reviewing the company’s “suitability for continued listing in light of all relevant circumstances and news including recent filings on Form 6-Ks made with the US Securities and Exchange Commission”. —

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