SEC likely to be lenient on Satyam: Govt

“I don’t have any formal information. My informal information is there is no cause of worry,” Khurshid told reporters here on the sidelines of a seminar on financial inclusion organised by FICCI.

The market regulator in India Securities Exchange Board of India (Sebi) had earlier requested the Securities Exchange Commission to waive the penalty on Mahindra Satyam for frauds committed by its previous management. The SEC has been investigating Satyam’s operations in the US as it is listed in the New York Stock Exchange.

Asked about the progress of the Satyam case, he said: “Investigation is over and prosecutions are going on. All the chargesheets have been filed. However,the Enforcement Directorate has been carrying out some probe, trying to find whether there is any money going across the border. But that do not prevent the prosecution from going forward.”

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