Fast-track court to settle Satyam case, says govt


“The Andhra Pradesh High Court has agreed to our appeal and has already given an in-principal approval to set up a fast track court for the settlement of the Satyam fraud issue. We’re now awaiting the final notification,” Khurshid told reporters here.
He said the government was putting in place an “early warning system” to prevent similar frauds in future.

“Presently we detect such frauds on the basis of anonymous complaints. The process has not been institutionalised so far. But this advanced model would help us to detect any Satyam-like incident before it happens,” he said, adding that Securities & Exchange Board of India (Sebi) is helping the ministry to formulate the system.  Kurshid said investigation into the Satyam case had almost been completed by the Central Bureau of Investigation (CBI).
“The CBI probe is almost over and now we are waiting for the report from US’ Internal Revenue Services (IRS),” he said, after inaugurating an international conference on convergence of corporate governance norms.

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