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Chairman of Securities and Exchange Board of India, C B Bhave speaks during a news conference. | Photograph: Adnan Abidi/Reuters
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Sebi to probe Satyam market operations

January 7, 2009

Startled by the disclosure of fudging of accounts by Satyam founder B Ramalinga Raju, market regulator Sebi has ordered a probe into share market operations and inspection of the IT company.

"Sebi has ordered an investigation into the affairs relating to buying, selling or dealing in the shares of Satyam Computers," it said in a release.

The probe follows a letter written by Raju in which he disclosed that "accounts provided to the stock exchanges were not true".

The investigation, SEBI said, will ascertain whether any provision of the Act or regulation has been violated.

RoC told to submit report on Satyam by Jan 14

The Registrar of Companies, Hyderabad, has been asked to submit a report on Satyam Computer by January 14, said Corporate Affairs Minister P C Gupta.

Text: PTI

Image: Chairman of Securities and Exchange Board of India, C B Bhave speaks during a news conference. | Photograph: Adnan Abidi/Reuters

Also read: Sebi 'horrified' by Satyam fraud
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