Govt bats for Satyam with SEC

The corporate affairs ministry and Securities & Exchange Board of India (Sebi) had sent a communication to SEC authorities in this regard, he told reporters here.

“While Sebi has taken up the issue with SEC, the ministry has urged the US government, not to impose any penalty,” he said, adding “any penalty imposed on Satyam will have an adverse impact on the shareholders and it’ll be a set back to the company, which is in the process of revival.”  “Satyam has been put back on the rail and it should be given a free hand to function,” Khurshid argued.