CBI to probe Satyam accounting fraud case.Byline: ANI New Delhi, Feb 17 (ANI): Union Minister of Corporate Affairs Prem Chand Gupta Prem Chand Gupta (born February 3, 1950) is the cabinet minister in Ministry of Company Affairs of India. He is a member of the Rashtriya Janata Dal and is an elected Member of Parliament representing the state of Bihar in the Rajya Sabha. on Tuesday said the government has ordered the Central Bureau of Investigation (CBI) to probe the accounting fraud in IT major Satyam Computer Services Ltd. "The government has ordered for a CBI investigation into the whole issue. CBI will now look into all aspects of the investigation," Gupta said. Addressing the media here, he informed that no time frame has been set for the CBI. "While the Serious Fraud Investigation Office (SFIO) under his ministry had been given three-months to wrap up its probe into the Satyam scam, no time frame has been set for CBI," Gupta said. He refused to launch an investigation into accounts of the companies audited by Price Waterhouse, the statutory auditors for Satyam. "There would not be any investigation into the accounts of the companies audited by Price Waterhouse. The Reserve Bank of India The Reserve Bank of India (RBI) is the central bank of India, and was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. Since its inception, it has been headquartered in Mumbai. (RBI) has issued an advisory to banks on October 2004 not to engage Price Waterhouse for audits after unearthing of accounting deficiencies in Global Trust Bank (GBT), whose account it was auditing," he said. Gupta said he was concerned about the future of Satyam's employees. "We are concerned about the 53,000 employees of Satyam. The Institute of Chartered Accountants of India The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of chartered accountancy in India. was also examining the role and the conduct of the statutory auditors for the company," Gupta informed. Andhra Pradesh Police on Monday issued an order recommending a CBI probe into the scam. (ANI) Copyright 2009 Asian News International The Asian News International (ANI) agency provides multimedia news to China and 50 bureaus in India. It covers virtually all of South Asia since its foundation and presently claims, on its official website, to be the leading South Asia-wide news agency. (ANI) - All Rights Reserved. Provided by Syndigate.info an Albawaba.com company |
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