Trade union calls for Satyam sale to be delayed

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...

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.

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