Congress accuses Naidu, NDA of complacency in Satyam episodeJanuary 14th, 2009 - 12:39 am ICT by IANS
New Delhi, Jan 13 (IANS) A parliamentarian had raised the issue of irregularities in Satyam Computer Services way back in 2001 but then Andhra Pradesh Chief Minister N. Chandrababu Naidu and the National Democratic Alliance (NDA) government had ignored the matter, the Congress party said Tuesday. “In 2001, a complaint was made by an MP. The Income Tax department found in its investigation that a fraud has been done by Satyam. But Chandrababu Naidu and the NDA government didn’t take any action. Had they taken action then, such a scam could have been prevented,” Congress spokesperson M.Veerappa Moily told reporters here.
He, however, said: “The software industry in India is very strong. They have highest credibility and the whole industry should not be seen in that light because one software company has done it.”
Asked about the role of the government in containing the Satyam fallout, Veerappa Moily said the government had stepped in and every possible step would be taken to secure the future of shareholders.
Software major Satyam Computer Services has been hit by a Rs.70 billion fraud perpetrated by its founder chairman B. Ramalinga Raju.
- $10m US settlement in firm's interest, says Mahindra Satyam - Apr 06, 2011
- Mahindra Satyam, Tech Mahindra Ltd merge - Mar 21, 2012
- Mahindra Satyam, Tech Mahindra merger likely in 8-9 months - Apr 24, 2012
- Tech Mahindra, Mahindra Satyam to merge (Lead) - Mar 21, 2012
- Satyam case: Supreme Court grants bail to five - Oct 13, 2011
- Stage set for Mahindra Satyam's merger - Mar 20, 2012
- Mahindra Satyam-Tech Mahindra merger put on hold - Feb 14, 2011
- Mahindra Satyam's merger with Tech Mahindra next year - Nov 10, 2011
- Government keen on passing new companies act - Mar 01, 2012
- Ramalinga Raju gets bail - Aug 18, 2010
- Satyam case: CBI seeks time till Sep 30 to present case - Sep 18, 2011
- Satyam's Ramalinga Raju, two others get bail - Nov 04, 2011
- US SEC may file civil fraud charges against Satyam - Oct 03, 2010
- Satyam no longer pride of Andhra Pradesh - Apr 13, 2009
- Mahindra Satyam merger with Tech Mahindra likely next year - May 23, 2011