Rajasekhara Reddy orders CID probe into Satyam fraud
Andhra Pradesh Chief Minister Y.S.Rajasekhara Reddy on Wednesday asked the Crime Investigation Department of the police to conduct a preliminary inquiry and see whether the State government could initiate criminal action against Satyam Computers, following the admission by its Chairman B. Ramalinga Raju that the company’s accounts were manipulated.
Dr. Reddy, who monitored development on the Satyam front in New Delhi, announced the probe at a press conference. “The figures mentioned in his letter are mind-boggling. The Securities and Exchange Board of India (SEBI) should look into it and take action. The State government’s role in such cases is very limited,” he said. He denied that the government had awarded any major project to Satyam.