I-T dept to assist CBI in Satyam probe

Broadening the ambit of probe into the country's biggest corporate fraud at Satyam, the Income-Tax department has formed a two-member team to assist the Central Bureau of Investigation (CBI), besides carrying out a parallel inquiry into alleged tax violations.

The department has appointed two officers each from the assessment and investigation wings to probe the case, official sources said.

"We have already constituted a team to look into the case. The members are from the assessment and investigation wings and are based in Hyderabad," a senior IT official said.

The deputy commissioner rank officers will help liaison with CBI in the probe, while carrying out an independent parallel investigation for the I-T department to find, if any, tax irregularities were committed.

The CBI held discussions with income tax officials on Wednesday for the appointment of nodal officers in the case.

CBI also held discussions with Enforcement Directorate, Reserve Bank of India and some more banks on Wednesday, besides holding consultations with Satyam executives to understand the functioning of the company.