Andhra court lets Mahindra Satyam access records

The special Court hearing the Satyam case has partly allowed plea of the new management of Mahindra Satyam, to access docs seized by the CBI.

Hyderabad: The special Court hearing the
Satyam Computer case today partly allowed the petition of the
new management of the company Mahindra Satyam, to have an
access to the documents seized by the CBI.

Referring to the petition of Mahindra Satyam that sought
release of the record rooms at Satyam Technology Centre (STC)
and `My Home Hub` premises here which were sealed by CBI as
part of the investigations, the special judge trying the
Satyam scam cases, BVLN Chakravarti, allowed the petitioner
to gain access to the seized documents.

The court directed the CBI, probing the multi-crore
accounting fraud in Satyam Computers, to permit the petitioner
an uninterrupted access to the two premises and take copies of
the documents stored there in the presence of CBI officials
till the completion of restatement of accounts.

"Mahindra Satyam has been directed by Company Law Board
to restate the accounts of Satyam Computers by June 30, 2010
and the related documents have been kept in financial records
godown at both the premises," the petitioner had said.

The court also directed the petitioner not to damage
the records during verification or while taking copies of the
same and also asked it to bear the expenses incurred by CBI
for providing access to the records.

Earlier, the CBI had opposed Mahindra Satyam`s plea to
gain access to the premises till the filing of another
chargesheet on "diversion" of funds by Satyam accused.