Now, L&T under SEBI scanner for Satyam comment
Larsen & Toubro, Satyam’s biggest institutional stakeholder is now under the Securities and Exchange Board of India (SEBI) scanner after its CMD AM Naik had commented he had more information on Satyam than others. CNBC-TV18’s Vivek Law reports.
Sources said the market regulator was examining Naik’s comments and would seek an explanation from him.
The stock exchanges, BSE and NSE, have written to Satyam on Naik’s comments.
Infrastructure giant L&T, which initially picked up a 4% stake in Satyam and then hiked it 12%, much to the surprise of investors, has wanted to involve itself in the affairs of Satyam.