Hyderabad/Mumbai, Jan 9 : The recent corporate fraud of inflated profits of Satyam Computer, the country''s fourth-largest software company, has shocked investors in India.
Newspapers across the country on Friday carried the headlines screaming for the authorities to take action against the corporate fraud in order to reinstate the investor confidence.
Satyam employees shuffled into its Hyderabad office refusing to comment on anything. But employees of the software companies in Hyderabad said that the truth needed to come out soon so that air could be cleared.
German luxury carmaker, Audi India reported three-fold increase in its luxury cars sales in 2008, at a time when entire automobile sector is facing the heat of global slowdown. Audi sold 1,050 units in the country in the year 2008 as compared to 349 units during the previous year. 
Government would take stern action against the guilty involved in financial bungling in Satyam Computer Services. The Serious Fraud Investigation Office (SFIO) would investigate the entire case after verification by the Registrar of Companies (RoC) in Hyderabad. Registrar of Companies is directed to prepare report by January 14. The role of Satyam's company secretaries, auditors and finance officials would also be investigated and action would be taken for their contribution in the biggest ever corporate fraud.
Satyam Computer Services former Chairman B. Ramalinga Raju can face up to 10 years imprisonment together with a fine, which may expand to Rs 25 crore, in the financial scam, which led to erosion of investors wealth by socking Rs 10,000 crore in one day.
New Delhi - Employees of India's software major Satyam, that has been rocked by a 1.45-billion-dollar accounting fraud, were uncertain about their future as business leaders worried about the scam's impact on corporate India, media reports said Thursday.
