The Company Law Board (CLB) has directed the former Satyam chairman B Ramalinga Raju and four senior functionaries including his brother R Rama Raju not to sell or mortgage their shares and assets without its permission.
Premchand Gupta, minister of corporate affairs said, ?The company law board (CLB) has also directed the former directors on satyam board to disclose their bank accounts and properties in India and abroad by February 20 to the new board members. The other officials against whom the CLB has passed the order include Satyam executive Ram Mynampati, former CFO Srinivas Vadlamani and company secretary G J Jayaraman?.
Gupta said Raju and other Satyam executives ?have been directed by the CLB to forward to CLB, in sealed covers, particulars of their bank accounts, movable and immovable properties in India and elsewhere?.
The government had filed the main petition on January 9 to supersede the board of Satyam Computer Services, following the disclosure of fudging accounts by Raju.
Gupta also said that the government has no plans to sell Satyam and that it would rather see the beleaguered company stand on its feet than put it up for sale. ?Many corporate houses are interested in this (in buying Satyam), but the government has not taken any view on that. Now the board is in place. Now it is for the board to take a call on it. But as far as the government is concerned, there is no such thinking and no such move,? Gupta said.