JOIN USThe SFIO team, sources said, will be meeting officials of the CBI which is also probing the Satyam fraud. “The visit is with the view to have a better coordination with the CBI working there. Discussions would be held regarding the various aspects of the fraud at Satyam, especially, to gather insight into the findings of the CBI in the money-siphoning case,” an official source said.
The SFIO, the investigative arm of the Corporate Affairs Ministry, has been asked by the government to probe the angle of siphoning of money by the promoters of Satyam and submit its report by Oct2009.
The investigation would require the SFIO to check the accounts of over 350 companies and 700 to 800 bank accounts. Besides visiting the headquarters of the company, which has been taken over by Tech Mahindra, the SFIO team would meet representatives of some local companies which had dealings with Satyam.
In April, the SFIO had submitted a preliminary report to the government.