01-15-2009, 02:15 AM
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Oz, Singapore send SOS to Govt on companyâs status</b>
pioneer.com
Nidhi Sharma | New Delhi
Even as the Government is trying to discover how deep the roots of the Satyam fraud run, <b>Australia and Singapore have asked India to clarify the status of the tainted company since it handles their official accounts.</b>
According to sources, both Australia and Singapore have approached the Centre through their ambassadors to seek clarifications on several issues pertaining to the company. These include the legality of its operations, solvency status, assets and the Indian Governmentâs involvement in bailing out Satyam Computers.
Sources said the <b>accounts of the Australian and Singaporean Governments are handled by the company. A source said: âThe Singaporean Prime Ministerâs salary account services are also managed by it. The Australian Government employeesâ accounts are managed by the companyâs operatives. The Governments are concerned. They want information on how far the Centre is involved in cleaning up the mess.â</b>
Apart from this, <b>seven class action suits, which are similar to Indiaâs public interest litigations (PILs), have been filed in various US courts. Satyam has about 7,000 employees in the US. More such suits could follow</b>. This would now require proper planning by the Government<!--QuoteEnd--><!--QuoteEEnd-->
Satyam should pack now to protect more loses. Let its employess join other companies.
pioneer.com
Nidhi Sharma | New Delhi
Even as the Government is trying to discover how deep the roots of the Satyam fraud run, <b>Australia and Singapore have asked India to clarify the status of the tainted company since it handles their official accounts.</b>
According to sources, both Australia and Singapore have approached the Centre through their ambassadors to seek clarifications on several issues pertaining to the company. These include the legality of its operations, solvency status, assets and the Indian Governmentâs involvement in bailing out Satyam Computers.
Sources said the <b>accounts of the Australian and Singaporean Governments are handled by the company. A source said: âThe Singaporean Prime Ministerâs salary account services are also managed by it. The Australian Government employeesâ accounts are managed by the companyâs operatives. The Governments are concerned. They want information on how far the Centre is involved in cleaning up the mess.â</b>
Apart from this, <b>seven class action suits, which are similar to Indiaâs public interest litigations (PILs), have been filed in various US courts. Satyam has about 7,000 employees in the US. More such suits could follow</b>. This would now require proper planning by the Government<!--QuoteEnd--><!--QuoteEEnd-->
Satyam should pack now to protect more loses. Let its employess join other companies.