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Govt sees ‘nexus’ between Satyam,Maytas

Govt has said there appeared to be a "nexus" between the fraud at Satyam and other firms linked to its promoters.

Written by Reuters | New Delhi |
January 19, 2009 7:01:36 pm

Corporate affairs minister Prem Chand Gupta said on Monday there appeared to be a “nexus” between the fraud at outsourcer Satyam Computer Services and other firms linked to its promoters.

Gupta said the government had extended the probe by the Serious Fraud Office to two firms in which the family of jailed Satyam founder Ramalinga Raju hold stakes.

“The inspectors investigating the matters have informed about apparent nexus between the events that have taken place in Satyam and the following companies amongst others — Maytas Properties Ltd and Maytas Infra Ltd,” Gupta added.

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