A trade union in India wants the sale of Satyam to be delayed
until after the country's general election and the completion of
the Central Bureau of Investigation's investigation into accounting
fraud at the company.
According to the Business Standard in India trade union Unites,
which represents IT workers, has asked the Electoral Commission to
hold back the sale of Satyam. The company is expected to be
sold as early as next week.
The union has had a massive increase in members from Satyam
since the fraud scandal was revealed in January.
The Business Standard said an e-mail written to chief election
commissioner N Gopalaswami from the union requested the delay,
until investigations are complete, because potential bidders may be
put of my uncertainties.
"We feel the Electoral Commission has every right to examine the
whole move to get competitive bidding for Satyam, as the whole
liability running into billions of dollars will eventually fall on
the taxpayers of India," Karthik Shekhar, general secretary at
Unite said in the e-mail.
Satyam has been at the centre of a scandal since former chairman
Ramalinga Raju admitted in January that he had
falsely reported the company's results for years.