Even as probe into multi-billion dollar Satyam fraud continues, Mahindra Saty-am chairman Vineet Nayyar has asked the government to de-freeze immovable assets, shares and securities of its company secretary G Jayaraman.

In a letter written to corporate affairs secretary DK Mittal, Nayyar has sought government intervention pending review of proceedings against the latter.

But, Serious Fraud Investigation Office (SFIO) has named Jayaraman as an accused in the Satyam fraud while another investigating arm of the government CBI has retained him as prime witness. Company Law Board (CLB) had decided to freeze Jayaraman’s assets in January 2009 following the revelation of fraud in Satyam by its then owner B Ramalinga Raju.

In his letter of June 2, Nayyar has said SFIO investigation report submitted in October 2009 “categorically stated that the investigation has not revealed involvement of the company secretary (Jayaraman) in the act of falsification”.

When contacted by Financial Chronicle, SFIO additional director Baljit Singh maintained that the agency has filed seven cases in Satyam fraud. “We have filed seven cases in the Satyam fraud. The matter is sub-judicious and now it’s for the court, not us, to decide as to who is guilty and who is not. From our side, we have submitted our report,” Singh said.

Nayyar had also told corporate affairs ministry that if in case any ‘serious wrong doing’ is found against Jayaraman, Mahindra Satyam will not hesitate to take action against him.

ajaykumarshukla

@mydigitalfc.com