HYDERABAD: Almost a fortnight after the more Rs. 7,000 crore fraud of Satyam Computer Services Ltd. surfaced, the State government for the first time has conceded that the tainted company is closely related to Maytas Infra, a company that secured several projects in irrigation and other sectors in the State.
Chief Minister Y.S. Rajasekhara Reddy admitted that investigation into the affairs of one company “definitely leads to the other.” “There is talk about money from Satyam being diverted to Maytas,” he said.
Replying to queries at a press conference here on Tuesday, he said the Crime Investigation Department of the State police was probing into the affairs of Satyam and “there is no bar on them to investigate that (Maytas) also.” Replying to queries on land allotment to Satyam at Visakhapatnam, he said Satyam as a company should be differentiated and it was the erstwhile management that “defrauded the shareholders.” He replied in the negative when asked whether all the projects awarded to Maytas would be scrapped.
Officials had been asked to closely supervise work on projects awarded to Maytas. The government would “explore alternatives as remedial measures as and when it feels that the firm cannot complete the projects.”
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