Satyam case: Court asks CBI to file memo by Apr 16

A city court today directed the CBI, probing the multi-crore accounting fraud in Satyam Computer, to file a memo before it by April 16 on whether it has locked the record rooms at Satyam Technology Centre (STC) and its 'My Home Hub' premises here.

Referring to a petition by Mahindra Satyam, which had acquired Satyam, seeking release of the record rooms at both the premises which were sealed by CBI as part of the investigations, special judge trying the Satyam scam cases BVLN Chakravarti asked the investigating agency to file a memo to pass orders on the application.

The counsel for Mahindra Satyam told the court that the CBI has locked both the premises ever since it took over the investigations into the case in February last year.

"The petitioner company (Mahindra Satyam) has been directed by Company Law Board to restate/reinstate the accounts of Satyam Computer Services (SCSL) by June 30, 2010," the counsel said adding the documents seized have been kept in financial records Godown of SCSL at Satyam Technology Centre (STC) Bahadurpally and also 'My Home Hub' premises.

It is imperative for the petitioner company and its auditors to have access to these records for verifying and for defending proceedings and litigations and also for taking further steps to defend and proceed in various cases including class action suits pending in the US court and other courts abroad, the counsel for Mahindra Satyam contended.

The counsel requested the judge to pass an interim order directing the CBI to provide it limited access of record rooms at Satyam Technology Centre (STC) and 'My Home Hub'.

However, the judge declined to pass any such order and directed the CBI to file a memo about locking of both the premises and posted the matter to April 16.

Referring on the miscellaneous petitions filed by some of the Satyam scam accused seeking defreezing of their accounts, the judge also posted the matter for April 16.

The judge, while referring the petition of Enforcement Directorate (ED) that sought court's permission to allow it to record the statements of four Satyam accused, further posted the matter to April 16.