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Govt excludes take over of Satyam

Thursday, January 8, 2009 10:58 am
By ShareGyan.com NewsDesk

Kamal Nath, union commerce and industry minister on Wednesday stated that the government will not take over the besieged IT major Satyam Computer Services.  He urged India Inc to respond to the call and help the company squirm out of the financial chaos created by its chairman Ramalinga Raju.
Nath added that the government would look into the regulatory part of the issues pertaining to the fraud and added that incident is an isolated case and would not damage the country’s image among global investors.
Satyam is a Nasdaq-listed firm, an inquiry by the US market regulator in the next couple of days would throw further light on the state of affairs in the firm, he said.

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