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Naidu blames Rajasekhara Reddy for Satyam scam.

Byline: ANI

Hyderabad, Jan 14 (ANI): Former Andhra Pradesh Chief Minister N Chandrababu Naidu has said alleged that greediness and mania for money of the present state Chief Minister Y S Rajasekhara Reddy were responsible for the fiasco of Satyam.

"This present Chief Minister has manipulated everything for his favour, for his greediness and also money," Naidu said here on Tuesday evening.

Naidu denied that in 2002 when his party was ruling the State, it knowingly ignored a report of irregularities in Satyam's performance.

On Tuesday, the government ordered the Serious Fraud Investigation Office (SFIO) to probe the Satyam scandal.

Corporate Affairs Minister Prem Chand Gupta told reporters here that the SIFO would submit its report in three months.

The probe has been ordered after receiving a report from the Registrar of Companies (RoC) in Hyderabad, which inspected the books of accounts of Satyam Computer Services and eight other companies belonging to the kin of the former chairman B Ramalinga Raju.

Meanwhile, the CB-CID conducted raids at the office of the Price Waterhouse Coopers (PWC) in Hyderabad.

The CID has also reportedly taken into custody Ramakrishna, an auditor with the PWC to unravel the criminal conspiracy. (ANI)

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Publication:Asian News International
Geographic Code:9INDI
Date:Jan 14, 2009
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