Satyam: Govt asks SFIO to expedite prosecution

The government has asked the investigating agency SFIO to expeditiously initiate prosecution proceedings against the guilty in the Satyam case and put the whole process on the fast track.

"The SFIO has completed the investigation in the case and the ministry has asked the SFIO to chalk out a strategy for prosecution in coordination with the CBI," said newly-appointed Minister of State for Corporate Affairs (independent charge) Salman Khursheed after taking charge.

The process of trial by a competent court, he added, is needed to be "put on a fast track so that the guilty can be punished quickly".

The Serious Fraud Investigation Office (SFIO) has submitted a 14,000-page report on the Satyam case to the Ministry of Corporate Affairs.

Talking about his priorities, the Minister said he would focus on the Aam Admi (common man) and protect the interests of small investors.

"The government's focus and our ministry's focus will be on Aam Admi...we will ensure protection and comfort of (the) average investor, particularly small investor, and ensure that nothing goes wrong, in addition to bringing in more transparency for boosting public confidence," he said.