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Prem Chand Gupta


About Prem Chand Gupta

Prem Chand Gupta is the Indian Union Minister for Corporate Affairs.

Professional Biography

Satyam episode

The role of Corporate Governance and ethics in India got questioned after Satyam Computer Services's B Ramalinga Raju admitted of fraud. PC Gupta, as Union Minister, has stepped in with a series of measure. He, as Minister, allowed the Indian Government to invoke Section 234A of the Company's Act that enabled the Registrar of Companies to obtain search and seizure order from the judicial magistrate in Hyderabad on January 8, 2009 at 6:00 PM. Later on January 9, 2009, he suspended the existing Satyam board and said that the board will be replaced with a Government-nominated Board.

Prem Chand Gupta in News

CLB asks government to appoint four nominee directors for Maytas Infra
The Company Law Board (CLB) on Thursday asked the government to appoint four nominee directors on the board of Maytas Infra. ANI

Satyam to invite bids for strategic partner, says Karnik
Satyam Computers Chairman Kiran Karnik said on Monday that the company board is planning to invite bids for a strategic investor in the next few days. ANI

Fidelity raises stake in Satyam to 10.17 per cent
Even as the Satyam Board is still in the process of finding a strategic investor, Fidelity Management and Research LLC (FMR LLC) has hiked its stake in the company to 10.17 per cent with the purchase of 18.27 lakh worth of shares. ANI

Govt probing Satyam fraud actively: Gupta
Union Corporate Affairs Minister Prem Chand Gupta today said that an investigation into the affairs of Satyam Computer Services Limited is being carried out by officers drawn from the Serious Fraud Investigation Office (SFIO) after orders were issued by the Government under the Companies Act, 1956. ANI

CBI registers case against ex Satyam-chief Raju
The Central Bureau of Investigation (CBI) on Friday registered a case against Satyam founder Ramalinga Raju for committing financial fraud to the tune of Rs. 7,800 crore. ANI

Satyam case: Hyderabad court dismisses bail plea of Raju brothers, Srinivas
A city court in Hyderabad today dismissed the bail petitions of Satyam founder B Ramalinga Raju, his brother Rama Raju and former CFO V Srinivas, all of them whom are lodged in the Chanchalguda Jail here. ANI

SEBI to interrogate Satyam accused
A city court in Hyderabad on Wednesday permitted the Securities and Exchange Board of India (SEBI) to question Satyam Computers former Chief Financial Officer, Vadlamani Srinivas and sacked Price Waterhouse auditors S Gopalakrishnan and Talluri Srinivas. ANI

Hyderabad court to hear SEBIs plea
A city court in Hyderabad will hear a petition filed by the Securities and Exchange Board of India (SEBI) to question Satyam Computers former Chief Financial Officer, Vadlamani Srinivas and sacked Price Waterhouse auditors S Gopalakrishnan and Talluri Srinivas. ANI

Government dissolves Maytas Infra board
The government on Tuesday approached the Company Law Board and requested it to supersede the board of Maytas Infrastructure and Maytas Properties. ANI

CBI to probe Satyam accounting fraud case
Union Minister of Corporate Affairs Prem Chand Gupta on Tuesday said the government has ordered the Central Bureau of Investigation (CBI) to probe the accounting fraud in IT major Satyam Computer Services Ltd. ANI

Discussion on Satyam issue postponed
The Lok Sabha on Friday evaded a discussion on the 7,500 crore Satyam scam on the request of leader of the main opposition Bhartiya Janata Party (BJP) L K Advani. ANI

Govt. not selling Satyam Computers Ltd.: P. C. Gupta
Minister of Company Affairs Prem Chand Gupta on Wednesday said that there was no government move to sell IT company Satyam Computers. ANI

Stiffer Companies Bill to tackle corporate frauds, says P C Gupt
Anxious to neutralise the effect caused by Satyam Computer Services on the IT sector, Corporate Affairs Minister Prem Chand Gupta has said the Government will not spare the guilty easily. ANI

Satyam board to meet in Hyderabad today
The newly constituted board of Satyam Computer will meet here today to take stock of the situation arising out of Rs.7000 crore scam perpetrated by the previous board. ANI

Government nominates three new directors on Satyam board
The Government today announced the nomination of three more directors to the board of Satyam Computer Services. ANI

Satyam board to meet on January 17: Deepak Parekh
A member of the Board of Directors of Satyam Computer Services today said that the board of the Hyderabad-based firm would meet on January 17 to take stock of the situation arising out of Rs.7000 crore scam perpetrated by the previous board. ANI

Satyam has not sought any government financial help
Corporate Affairs Minister Prem Chand Gupta today said the fraud-hit Satyam Computer Services has not sought any financial help from the government as the new board is working on reviving the company. ANI

Manmohan Singh reviews Satyam case with cabinet colleagues
Prime Minister Dr. Manmohan Singh reviewed Satyam case with cabinet colleagues here last evening. ANI

Naidu blames Rajasekhara Reddy for Satyam scam
Former Andhra Pradesh Chief Minister N Chandrababu Naidu has said alleged that greediness and mania for money of the present state Chief Minister Y S Rajasekhara Reddy were responsible for the fiasco of Satyam. ANI

Govt. orders Serious Fraud Investigation Office to probe Satyam scandal
The government today ordered the Serious Fraud Investigation Office (SFIO) to probe the Satyam scandal. ANI

Bail out package for Satyam soon: Kamal Nath
The troubled information and technology company Satyam,may get a revival package to keep itself afloat a amidst severe financial crisis. ANI

Three new members appointed on Satyams Board
The government on Sunday appointed three new members on Satyams Board. ANI

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