Hyderabad SE pulls up Satyam

HYDERABAD, APR 8: The Hyderabad Stock Exchange (HSE) has slapped a notice on Satyam Computer Services Ltd for a delay in intimating to the exchange about the company’s board meeting scheduled to finalise a bonus issue among other things. The Hyderabad Stock Exchange (HSE), has sought an explanation for the apparent lapse.

While the company had published the notice in a financial daily on March 27, which indicates the decision had been taken on March 26 itself, Satyam had communicated the decision to the bourse only after two days on March 29, stock exchange officials said informing about the notice. "There were wide fluctuations in the market price of your scrip during the previous settlement ended on Friday the March 26, 99", the notice to Satyam by the HSE observed asking the company to furnish details on the following, among other details: the exact time at which and to whom the company had issued the March 27 notice together with the acknowledgement from them.