INDIA A preliminary investigation into the $1bn fraud at Satyam, India’s fourth-largest IT outsourcing company, has shown serious irregularities in the preparation of its balance sheet, one of the country’s top regulators said at the weekend.
“On the face of it the Registrar of Companies feels that various figures or representations made on the balance sheet are not true and there seems to be inflated figures,” Prem Chand Gupta, the minister of corporate affairs, said in an interview with the Financial Times.
