U.S. may show courtesy on Satyam case

Kolkota: After making request with U.S. Government to be lenient on Satyam case few months ago, Indian government on Monday said that the company may get a fair judgment on the issue of the U.S. capital market regulator SEC imposing a fine on the firm.

Addresing the media on the sidelines of a seminar at Bengal Chamber of Commerce & Industry in Kolkota, Secretary with the company affairs ministry R Bandopadhyay said, "What I have come to know two days back, Mahindra Satyam may get a fair judgement."

Not only Indian Government, even SEBI had requested its U.S. counterpart SEC, not to impose a fine on the company. The Indian Government said that if a fine was imposed at this juncture when the firm was trying to recover, then all revival efforts to save around 50,000 jobs would not fructify. Even share price of the company would also come down if a fine was imposed.

Satyam Computer Services (Mahindra Satyam), can face punitive action in the U.S. as the company's shares were listed and traded on U.S. stock exchanges. It is also contesting about a dozen class action suits in various US courts which could entail a heavy penalty on the company.

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