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Money News

SEBI reviewing options on Satyam

Chairman of Securities and Exchange Board of India, C. B. Bhave speaks during a news conference in New Delhi in this March 2008 file photo. REUTERS/Adnan Abidi

MUMBAI (Reuters) - The Securities and Exchange Board of India 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 television channel CNBC TV 18.

“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 NDTV Profit separately.

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

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