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SEBI reviewing options on Satyam

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Reuters

Posted: Jan 07, 2009 at 1350 hrs IST

Mumbai SEBI said it is reviewing options after the chairman of No. 4 software services exporter Satyam Computer Services said its profits had been inflated and resigned.

"This is an event of horrifying magnitude and has happened for the first time. So I am sure there are many lessons to be learned," C. B. Bhave, chairman of Securities and Exchange Board of India, told a television channel.

"It is something which requires our action on an urgent and also continuing basis. As and when any decisions are taken, we would be disclosing that," he told another TV channel.

"We are also in touch with ministry of corporate affairs on what all steps need to be taken," Bhave said.

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