SEBI to complete Satyam probe as early as possible: Bhave
May, 12th 2009
SEBI Chairman C B Bhave on Monday said the market regulator was trying to complete the probe into the multi-crore rupee Satyam fraud case as early as possible.
"All I can tell is (that) we are progressing and we are trying our best to conclude the matter (investigation into the Satyam fraud case) as early as possible," he said in an interview.
Pointing out that as a matter of policy the regulator does not talk about ongoing probes prior to an actual order, SEBI chief said, "We should wait for the order to be passed. It would shed a lot of light on what has been going on."
SEBI had ordered an investigation Satyam financial scam case after the company's founder B Ramalinga Raju disclosed that books of accounts were doctored for the past several years.
Besides SEBI, Ministry of Corporate Affairs had ordered a probe into the case by the Serious Fraud Investigation Office (SFIO) which had already submitted its report to the government.
The Institute of Chartered Accountants of India (ICAI) too is also probing the role of the auditors in the whole fraud.