CPI (M) demands PM to extend area of probe in Satyam case to Maytas firms

January 18th, 2009 - 11:21 pm ICT by ANI  

Manmohan Singh

New Delhi/Hyderabad, Jan.18 (ANI): The Communist Party of India (M) on Sunday requested the Prime Minister Dr. Manmohan Singh to further the scope of investigation into the Satyam scam to other group entities, including the Maytas firms, promoted by family of B. Ramalinga Raju who founded the IT major.
CPI(M) General Secretary Prakash Karat through a letter written to Dr. Singh, has said: “In the light of the nexus between the Satyam-Maytas group of companies, the probe should be extended to all Maytas concerns,”
Karat said to restore public confidence an investigation to uncover all the illegal dealings of these companies was a must.
“Since the fraudulent dealings of the promoter of Satyam Computers Services became public, there is a growing evidence that funds were siphoned off from Satyam to the Maytas group of companies which are run by the family members of Ramalinga Raju,” Karat stated.
Karat also alleged that Maytas group of companies had accumulated a huge amount of land all over Andhra Pradesh and other states.
“Some of the land dealings are obviously irregular and are violative of the law. One such instance is the allotment of 50 acres of government land in Vishakapatanam district to Satyam,” Karat added.
Revealing the financial wrongdoings, Satyam founder and former chairman B Ramalinga Raju on January 7 had admitted to cooking up the balance sheet of the company in the past seven years to the tune of Rs 7,800 crore.
The case is being investigated by multiple agencies, including the Serious Fraud Investigation Office (SFIO), an entity that probes grave economic offences, are now investigating into fraud. (ANI)

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