Addressing the mediapersons after the meeting of the office-bearers of the BJP’s Investors’ Cell here, Grewal said that Satyam story had brought into open the window dressing of the financial reports generally done by the board of directors, which he alleged was hand-in-glove with auditors, company secretaries, financial Institutions and independent directors.

He demanded that the government should immediately take corrective action and should bring all such “Asatyams” to book, so that interest of retail Investors remained protected and India was not considered another Bannana Republic. He said that Satyam scandal would deal a big blow to “India Inc” and it will be a daunting task to rebuild faith of global investors in Indian economy.

Grewal added that the Investors’ Cell had been raising concern over such manipulations since long. He demanded that the government should bring in fresh regulations to restore faith in Indian economy. He said the government should immediately take action against those who derelicted their duties and let Satyama happen and demanded the dismissal of the SEBI Chairman.