The government on Saturday said that there was no delay in acting against the tainted founder of Satyam, B Ramalinga Raju, who was arrested on Friday by the Andhra Pradesh police for his involvement in a Rs 7,800 crore fraud, and assured that no guilty would be spared.
The government on Saturday said that there was no delay in acting against the tainted founder of Satyam, B Ramalinga Raju, who was arrested on Friday by the Andhra Pradesh police for his involvement in a Rs 7,800 crore fraud, and assured that no guilty would be spared.
"There would be no laxity against the guilty... So let us not talk about any individual or the auditors (PwC) of the company," Minister for Corporate Affairs Prem Chand Gupta told reporters when asked what action would be taken against Raju and auditors.
"We are very clear and a coordinated action would be taken," he said. The apex body of accounting firms ICAI has sought some information from the auditors of the company and Financial Reporting Review Board, the minister said, adding that they can ask for working papers of the audit and that has already happened.
"Once that (the papers) is received, ICAI will take its view," he added. Asked whether he would meet Prime Minister Manmohan Singh to brief him the developments, Gupta said, "well, lets hope so."
On the delay by the Andhra Pradesh government, Gupta said, "with this kind of action, what has been done so far in the last three days, I think this does not happen anywhere in the world."
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