ManagementNo special favour given to Mahindra Satyam: Khurshid
The government today said it has shown "no favour" to Mahindra Satyam by extending the deadline for restating of accounts by six months to June 2010.
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"No special favour is being shown to anyone. I think the best that can be done for the stakeholders is being done by them (Mahindra Satyam). Whatever assistance they have asked, we have given," Corporate Affairs Minister Salman Khurshid said when asked whether the move has impacted stakeholders.
The Company Law Board (CLB) earlier this year, extended the deadline for filing of restated accounts from December 2009 to June 30, 2010.
"No rigidity will be shown. Let us trust the good work that they are doing. They (Mahindra Satyam) had a difficult task to do, and if they need more time for it, I think legal procedures give them that opportunity," Khurshid added.
The CLB, had earlier set December 2009 as the deadline for the IT firm to restate accounts. As the process is complex and tedious, this has been extended by six months to get the right picture of its financial health and performance.