Fearing delay in prosecution in the Satyam fraud case,the corporate affairs ministry has constituted a coordination committee to monitor progress in the case and ensure its speedy disposal. The committee will be headed by the ministrys additional secretary and will have four members consisting of representatives from various agencies handling the case including Sebi,Enforcement Directorate and the CBI,official sources told The Indian Express. The main purpose of the committee is to make sure that the prosecution in the case is filed by the end of November,sources added. At present,the Serious Fraud Investigation Office,which was tasked with the investigation,is finalising the additional investigation report due on October 13,relating to information of siphoning of funds from the IT firm. The CBI has filed one chargesheet and is expected to file the second chargesheet soon. It has been 10 months since B Ramalingam Raju confessed to the Rs 7,800-crore fraud and the SFIO is yet to file a chargesheet due to lack of concrete evidence against the Rajus. Sources said the committee will coordinate investigations by various agencies so that information can be shared and the future course of action can be decided upon. Meanwhile,Sebi has said it will be able to take action against the culprits in Satyam accounting fraud case in the next one year.
