L&T starts inspection of Satyam books

Rediff India Abroad Home | All the sections

Search:

The Web

India Abroad

Get news updates:

Home > India > Business > Business Headline > Report

L&T starts inspection of Satyam books

BS Reporter in Hyderabad | March 30, 2009 11:02 IST

Related Articles

• The Satyam fiasco: Complete coverage

A team from India's $7 billion engineering behemoth, Larsen & Toubro, which holds 12 per cent stake in Satyam Computer Services [Get Quote] started inspecting the books of the troubled company.

The team is led by YM Deosthalee, whole-time director & chief financial officer of L&T. Satyam's CEO A S Murty, and his team is understood to have made a presentation.

"The information till now is very sketchy. There's a sense of the fixed assets and the order book position. However, the client list has not been shown. The disclosure level is not up to the company's (L&T's) expectations," said a source privy to the development.

A team from Tech Mahindra [Get Quote] was also at the Satyam headquarters. The members of the government-appointed board of Satyam, camping here for the past two days, continued their discussions on the transparency issues raised by the bidders, it was reliably learnt.

Powered by