Khurshid rules out duplication

Jul 16, 2010 |

Correspondent

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July 15: The corporate affairs minister, Mr Salman Khurshid, on Thursday refused to rule out filing additional chargesheets in the Rs 10,000 crore Satyam Computer fraud.

“The chargesheets can be filed even during the trial, if we find any fresh evidence. But we feel that we have enough material evidence at present to conduct a successful prosecution,” Mr Khurshid, said on the sidelines of an investor meet organised by the Federation of Chambers of Commerce and Industry.

Currently, the scam is being simultaneously investigated by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) and SFIO (Serious Fraud Investigating Office) of the corporate affairs ministry. The minister, however, feel that there would not be any duplication despite the simultaneous investigation.

"It (the investigation) is not duplicating. It is complimenting and supplementing each other. ED looks for any misuse of funds violating the financial legislation and CBI is looking at IPC violation and we (corporate affairs ministry) are looking for company law violations.”

Responding to queries about Maytas Properties, whose Hill County project got stalled after the scam broke out, the minister said the real estate company was privately-owned and hence it is not a direct responsibility of the government. “However, the government would try to extend whatever help it could,” he added.

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