Prosecution against Satyam offenders soon
THE government will soon initiate prosecution against the alleged offenders in the Satyam scam on the basis of the findings of the probe carried out by the Serious Fraud Investigation Office (SFIO).
SFIO, which had submitted its findings to the government, is currently working out its strategy for fighting the case under the guidance of the law ministry and the Central Bureau of Investigation (CBI), which is yet to complete its probe.
While the corporate affairs ministry has already drawn up a detailed note on the various company violations that the offenders will be charged with, CBI is helping SFIO in framing the charges on penal violations like cheating and falsification of accounts.
The law ministry has been coordinating with both the agencies for drawing up a quick prosecution strategy against the offenders, an official in the ministry of corporate affairs said on conditions of anonymity. As was stated by corporate affairs minister Salman Khursheed earlier, the government is trying to get a judicial order so that the prosecution, when it begins, could be taken up on a daily basis to save the judicial time lag.
While the government feels that SFIO’s report can be made into a viable case, it wants to ensure that CBI’s investigation does not contradict any part of SFIO’s report.
While the corporate affairs ministry has already drawn up a detailed note on the various company violations that the offenders will be charged with, CBI is helping SFIO in framing the charges on penal violations like cheating and falsification of accounts.
The law ministry has been coordinating with both the agencies for drawing up a quick prosecution strategy against the offenders, an official in the ministry of corporate affairs said on conditions of anonymity. As was stated by corporate affairs minister Salman Khursheed earlier, the government is trying to get a judicial order so that the prosecution, when it begins, could be taken up on a daily basis to save the judicial time lag.
While the government feels that SFIO’s report can be made into a viable case, it wants to ensure that CBI’s investigation does not contradict any part of SFIO’s report.
Source: ET
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