Satyam asks for CLB`s permission to publish accounts
April, 06th 2009
Satyam Computer Services (Satyam), the beleaguered IT giant has said that the company has written to the company law board (CLB) for the publishing of Q3 results and are awaiting their response, reports Business Standard.
The restatement of Satyam`s (Q, N,C,F)* accounts is expected to be complete in July as the newly-appointed audit firms will have to scrutinise the company`s fudged numbers starting from 2002.
A 30-member team from Chennai-based Brahmaiah & Company, appointed as internal auditor, is going through the fraud-hit IT major`s accounts in Hyderabad. KPMG and Deloitte have also been mandated by the government-appointed Satyam board to scrutinise the IT firm`s books of accounts.
The auditors have been asked to work backwards from 2008-09 to 2002 to facilitate a speedy declaration of Q3 results, the source said.
Shares of the company gained Rs 0.25, or 0.63%, to end at Rs 39.90. The total volume of shares traded was 7,713,822.00 at the BSE (Thursday).