By IANS,
New Delhi : A parliamentarian had raised the issue of irregularities in Satyam Computer Services way back in 2001 but then Andhra Pradesh Chief Minister N. Chandrababu Naidu and the National Democratic Alliance (NDA) government had ignored the matter, the Congress party said Tuesday.
“In 2001, a complaint was made by an MP. The Income Tax department found in its investigation that a fraud has been done by Satyam. But Chandrababu Naidu and the NDA government didn’t take any action. Had they taken action then, such a scam could have been prevented,” Congress spokesperson M.Veerappa Moily told reporters here.
He, however, said: “The software industry in India is very strong. They have highest credibility and the whole industry should not be seen in that light because one software company has done it.”
Asked about the role of the government in containing the Satyam fallout,Veerappa Moily said the government had stepped in and every possible step would be taken to secure the future of shareholders.
Software major Satyam Computer Services has been hit by a Rs.70 billion fraud perpetrated by its founder chairman B. Ramalinga Raju.