Satyam Computer Services Ltd. (fka SAYCY)

[Seminole Red]

NEW DELHI (Dow Jones)--India's Serious Fraud Investigation Office will file charges against those involved in the accounting fraud at Satyam Computer Services Ltd. (500376.BY), the federal corporate affairs minister said Monday.

"The SFIO is dutifully pursuing what it is supposed to do. During this month, it will begin prosecution (in the Satyam case)," Salman Khurshid told reporters at a briefing.

Satyam Computer was embroiled in an accounting scandal after its founder, Ramalinga Raju, confessed in January to overstating the software exporter's profits and creating a fictitious cash balance of more than $1 billion.


-By Prasanta Sahu, Dow Jones Newswires; 91-11-4356-3311; [e-mail]


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