Hearing on Satyam plea adjourned
Moneylife Digital Team 26 March 2010

The court also adjourned the hearing of other cases filed by the CBI and the Enforcement Directorate against the fraud-hit software major

A special court today posted to 31st March the hearing of a petition filed by Satyam Computer Services (now Mahindra Satyam), seeking release of the company's records seized by the CBI.

The court also adjourned the hearing of other cases filed by the CBI and the Enforcement Directorate against the fraud-hit software major to the same date.

Mahindra Satyam, in its petition filed on 15th February, requested the court to order the CBI to release documents and data -storage devices seized by the Central agency and the State CID (initial investigator of the case) during searches last year.

IT firm's counsel Shireen Sethna Baria argued that the company has to submit restated accounts to various agencies, including the New York Stock Exchange, where it was listed.

She said as per the direction given by the Company Law Board, the software major needs to submit its final accounts before 30th June.

“We will make all the documents available to CBI or any other investigation agency as and when they require,” Ms Baria assured the special court set up for the trial of the Satyam scam cases.

She said that the CBI has not objected to the company's plea. After hearing the argument, the court posted the matter to next Wednesday.

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