News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Rediff.com  » Business » 'We weren't engaged in Maytas Properties' valuation': E&Y

'We weren't engaged in Maytas Properties' valuation': E&Y

Source: PTI
January 17, 2009 13:33 IST
Get Rediff News in your Inbox:

Global consultancy firm Ernst & Young iterated on Saturday that it has not valued Maytas Properties, a company promoted by the family of disgraced founder of Satyam, Ramalinga Raju, in the aborted $1.6-billion deal.

"As we have stated before...we were not engaged in the valuation of Maytas Properties, "an E&Y spokesperson said.

The company was reacting to reports based on the December 16 Satyam board meeting minutes that says Ernst & Young had done the valuation of Maytas.

On January 11, E&Y had said in a statement that 'we would like to again clarify that we were not engaged by Satyam Computer Limited or any of its subsidiaries to conduct the valuation of Maytas Properties and learnt of the proposed Maytas/Satyam transaction after it was announced publicly."

The firm had also said that it had not been the internal auditor for Satyam Computer Services Limited.

E&Y, however, is the statutory auditor of Maytas Properties, whose acquisition by Satyam Computer was aborted following protests from investors.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!