Satyam investigation is virtually over: Khursheed
Mumbai: Corporate Affairs Minister Salman
Khursheed on Tuesday said that the investigation into Satyam scam
case by SFIO is virtually over except for the probe by the I-T
department into areas of siphoning of funds.
"As far as Serious Frauds Investigation Office is
concerned, its investigation is virtually over. Now, it is to
file its final report. It has given us an interim report where
most of the things have been included. Prosecution and
charge-sheet have been filed by the CBI," Khursheed said.
SFIO would file its final report very soon, he said,
adding that the Government would ensure that the prosecution
is done expeditiously and for this purpose the Government had
sought the nomination of an appropriate court by the High
Court. The High Court has agreed to do so.
The minister also added that the SFIO would be empowered
with more teeth in the Company Bill.
Khursheed said that something like "corporate social
credit" needs to be developed in India to enable corporates to
reap tax benefits for doing something institutionally in the
"We have pursued a policy that somebody who takes care
of what is essentially a government`s responsibility, that
person is exempted from paying tax, like investing in
education," he said.
"Similarly there are many areas which the company can
do directly as setting up a foundation or a charitable
society and there if it puts money, it gets an exemption,"
"If you do something institutionally in the company,
you should also get the same advantage as you get if you put
the money in the trust or society," he said justifying the
need to develop a corporate social credit in the country.
The Ministry, he said, was looking on the issue of
Independent Directors and trying to bring in more clarity on
The Satyam scam came into light after its founder B
Ramalinga Raju admitted to fudging of accounts in January.
More from India
More from World
More from Sports
More from Entertaiment
- Kalam's advisor recalls his last moments with the great scientist
- To Sir with Love: School kids pay tribute to Dr Kalam
- DNA: Complete analysis of APJ Abdul Kalam's life and achievements
- India mourns APJ Abdul Kalam; PM to receive body at Palam airport
- Kalam's body flown to Delhi; PM, Prez lead nation in paying homage
- When UN declared Dr APJ Abdul Kalam's 79th birthday as World Students' Day
- SC hearing on 1993 Mumbai blasts convict Yakub Memon's curative plea
- India's 'original rocket man': Abdul Kalam's phenomenal contribution to Science
- Parliament pays tributes to Dr APJ Abdul Kalam, calls him 'real gem' of India
- Ready to see Shah Rukh-Salman together on-screen?