News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 15 years ago
Home  » Business » Investors' body to file complaint against Satyam

Investors' body to file complaint against Satyam

Source: PTI
January 08, 2009 13:09 IST
Get Rediff News in your Inbox:

National Association of Small Investors, a registered NGO, said on Thursday it will file a complaint against scam-hit software exporter Satyam Computer Services for 'cheating shareholders and investors'.

"This is a financial attack on the country. We are filing a complaint against Satyam with the economic offences department for cheating the shareholders and investors," Nasi president Pradeep Bhavnani told PTI.

Many members of the association, who had bought shares of the IT firm at Rs 540 some four months back, had suffered heavy losses when the scrip crashed to Rs 39 on Wednesday, he said.

"We are writing to the economic offences department to investigate the matter and punish the auditors, including PricewaterhouseCoopers," Bhavnani said.

Hinting that the Satyam scam is much more than meets the eye, he said, "I am sure there is insider trading and it will come out."

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!