Ghotala.in

Satyam fraud eroded corporate & State’s image: CM

HYDERABAD: Chief Minister YS Rajasekhara Reddy admitted that the Satyam fiasco had eroded the corporate image of the State as well as the Centre. The government was studying the situation following the financial fraud committed by Ramalinga Raju and its effect on Maytas. It was also awaiting the preliminary inquiry report, the chief minister said.

“I was in Delhi, when the Satyam news broke and I immediately asked the Chief secretary to review the situation. He reported that Maytas did not indulge in any irregularity,” Rajasekhara Reddy said.

At a weekly interview to a regional TV Channel, Rajasekhara Reddy justified the measures taken by the government that include ordering a CBCID inquiry.