Sebi chief meets PM on Satyam

Economy Bureau
Posted: Tuesday, Jan 13, 2009 at 2252 hrs IST
Updated: Tuesday, Jan 13, 2009 at 2252 hrs IST

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New Delhi: and the former Sebi member C Achutan held its first meeting on Monday. Satyam’s stock gained over 44% at the BSE on Monday as appointment of the new Board and government’s announcement to provide indirect liquidity support to the company lifted the share price.

Sebi is also understood to have discussed with the PM its intent to study the audit reports of all the Sensex companies. On Friday, Sebi has accepted the suggestion of its Committee on Disclosures and Accounting Standards to review audit reports relating to the last quarterly results and the last audited annual financial results of companies constituting the NSE-Nifty 50 and the BSE Sensex.

“For this purpose, a panel of auditors would be prepared by SEBI. This exercise would be taken up following the publication of third quarter results and is expected to be completed by end of February 2009,” Sebi had said. The markets regulator would also review on random basis reports of companies outside the list of Nifty 50 and Sensex would also be covered in the exercise....

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