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.

It may be recalled that former, chairman of Satyam Computer Services, Ramalinga Raju has already confessed financial embezzlement in a letter written to company's board, the SEBI chairman and stock exchanges.

Commenting on the development, Minister for Corporate Affairs Prem Chand Gupta said, "We have received communication from Ramalinga Raju. Facts need to be verified. We have communicated the message to the Registrar of Companies in Hyderabad and given them a deadline of January 14, by when we will have all the information."

Mr. Gupta further added that all actions would be taken according to recently passed Companies Bill, 2008. Meanwhile, Andhra Chief Minister Y S Rajasekhara Reddy said that the state investigative wing CB-CID would also look in to the matter. Institutes of chartered accounts and company secretaries, ICAI and ICSI, can also be involved to investigate the role of Satyam directors and auditors in the financial fraud.