US SEC begins Satyam probe in India

US SEC begins Satyam probe in India
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First Published: Thu, Jul 23 2009. 11 52 PM IST
Updated: Thu, Jul 23 2009. 11 52 PM IST
Hyderabad: A team of investigators from the US Securities and Exchange Commission (SEC) on Thursday met the senior management of Satyam Computer Services Ltd as part of its probe into the Rs7,136 crore accounting fraud at the outsourcer.
Satyam, now owned by Tech Mahindra Ltd, is listed on the New York Stock Exchange (NYSE). The SEC, which has been investigating into the fraud in the US, obtained India’s s permission earlier in July to continues its probe in India.
A senior Satyam executive, who didn’t want to be named, confirmed that SEC officials met the firm’s senior management but didn’t have more details.
The SEC team also met Andhra Pradesh director general of police, S.S.P. Yadav, and is scheduled to meet top officials of the Central Bureau of Investigation (CBI) on Friday, an official at the investigating agency said.
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First Published: Thu, Jul 23 2009. 11 52 PM IST