Satyam Scam: Govt orders CBI probe

Company Affairs Minister Prem Chand Gupta told Parliament on Tuesday that the government has order the Central Bureau of Investigation (CBI) to probe into the Satyam scam.

The investigation by Serious Fraud Investigation Office (SFIO) is going on. While SEBI had interrogated Raju brothers and reportedly claimed of having enough evidences to nail them. The CBI will now look into the Satyam scam.

The government appointed board had named the CEO and CFO to run the company smoothly. The priority of the government would be to protect interest of the employees and investors of the scam hit company.

The Satyam fraud case reflects the reality of the corporate governance in India. The Satyam case is adding insult to IT sectors which has been facing the impact of the global financial crisis.