Regulators to probe books of 8 Satyam subsidiaries

New Delhi: The Government on Thursday ordered a probe into the accounts of eight subsidiaries of Satyam Computer Services, which has lost its share value after its former chief confessed to doctoring accounts.
The accounts of Maytas Properties, Maytas Infrastructure, Satyam BPO, Nipuna Services, Knowledge Dynamics, Nitor Global Solutions, Ca Satyam ASP and Satyam Venture Engineering Services would be investigated.
The inspection would be conducted as per the provisions of section 209A of the Companies Act, Corporate Affairs Minister Prem Chand Gupta said.
Gupta said that Financial Reporting Review Board of the ICAI has been asked to get the internal working documents of Satyam and give its report within three days to the institute.
The Institute of Chartered Accountants of India has been directed to take action against Satyam’s auditors. "The Government is keeping all options open. We are in close interaction with all other regulators to take coordinated action," he said.
"Registrar of Companies and Securities and Exchange Board of India (SEBI) are working in Hyderabad. There feedback has been sought," the Minister said.