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Hearing on Satyam plea adjourned

Last Updated: Friday, March 26, 2010 - 17:41

Hyderabad: A special court Friday posted to
March 31 the hearing of a petition filed by Satyam Computer
Services (now Mahindra Satyam) seeking release of company`s
records seized by the CBI.

The court also adjourned the hearing of other cases filed
by the CBI and the Enforcement Directorate against the
fraud-hit software major to the same date.

Mahindra Satyam, in its petition filed on February 15,
requested the court to order the CBI to release documents and
data storage devices sized by the Central agency and State CID
(initial investigator of the case) during searches last year.

IT firm`s counsel Shireen Sethna Baria argued that the
company has to submit restated accounts to various agencies,
including New York Stock Exchange, where it was listed.

She said as per the direction given by the Company Law
Board, the software major needs to submit its final accounts
before June 30.

"We will make all the documents available to CBI or any
other investigation agency as and when they require," Baria
assured the Special Court set up for the trial of the Satyam
scam cases.

She said the CBI has not objected to the company`s plea.
After hearing the argument, the court posted the matter to
next Wednesday.


First Published: Friday, March 26, 2010 - 17:41

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