Srinivas Vadlamani, the CFO of the erstwhile beleaguered Satyam board, said the evaluation of Maytas was based on Sebi regulations. The valuation for the Maytas deal, he said, was done by Ernst & Young, while the title diligence was done by Luthra & Luthra.
Vadlamani never mentioned when this valuation was done leading to questions on the veracity of his statements.
However, E&Y denies these charges. "We would like to clarify that Ernst & Young was neither the advisor to the proposed Satyam transaction and nor were we engaged by Satyam Computer or any of its subsidiaries to conduct the valuation of Maytas Properties. We learnt of the proposed Satyam Maytas transaction after it was announced publicly," it clarified.
No comments:
Post a Comment