Satyam shares have fallen 40.0% since the Maytas misstep on Mumbai's National Stock Exchange, and its American depositary receipts plunged 55.0% in a single session on the announcement of the deal.
The news came as little surprise even given the wide range of estimates, and after bottoming out at the lows of the session shortly after the announcement the U.S. equity market got climbed back into positive territory.
But in a heated committee session after Mrs May's announcement, the MPs were told by Mr Sedwill that the decision to axe the border agency had only been taken on Tuesday morning.
During the symposium, it showed footage broadcast at the time of the tsunami, from the moment when coverage of a session of parliament was interrupted by the announcement of the earthquake to the first tsunami warning four minutes later and calls to viewers in affected areas to evacuate to higher ground.
But Sir George defended the move: "Today's announcement will... ensure that Parliament has adequate time in this session to debate and scrutinise the government's legislative programme, " he told MPs.
Mr Arafat had made any announcement of a new cabinet conditional on Israel allowing all 84 members of the Palestinian parliament to attend the session in Ramallah.