Action on Maytas Infra awaits US probe results

The government said on Friday that it has ample evidence to prosecute the perpetrators of the Satyam Computer Services fraud; though its sister company, Maytas Infra, remains under a cloud of investigation.

Union corporate affairs minister Salman Khurshid said in Hyderabad that the government is awaiting a final report from the Enforcement Directorate and the US Internal Revenue Service (IRS) for evidence on whether there was a diversion of funds from Satyam to Maytas Infra and Maytas Properties, and whether Maytas Infra accounts too need to be restated.

''Right now there is nothing available to us,'' Khurshid moaned to newspersons during a national conference on corporate governance organised by the Institute of Directors. He, however, said investigations in the Rs800-crore Satyam fraud were almost over, and only the ED and IRS report was awaited to conclude them.

''Investigations by CBI and the ministry of corporate affairs into the Satyam fraud are more or less over and there is enough material for prosecution. We already have permission to file additional charge-sheets based on information available to us,'' he said.

Khurshid also said the government had sought a fast-track court from the Andhra Pradesh High Court to expedite the trial, and the court had agreed to it.

Expressing satisfaction about the way the Satyam issue was handled post-scam, Khurshid said: ''This is a success story in terms of moving from crisis to rehabilitation so quickly not just in India but globally as well.''