MANILA, Philippines -- The Senate blue ribbon committee will investigate the pullout of a Filipino technology firm from a consortium that won the contract to automate the 2010 elections, Senator Richard Gordon said on Tuesday.

"I've spoken to the blue ribbon committee to tell them were holding a hearing because I want to get to the bottom of this,'' Gordon, chairman of the Senate blue ribbon committee, told dzBB radio.

Gordon said the investigation could start on Friday or on Monday.

Saying that the pullout of Total Information Management (TIM) from its joint venture with Dutch firm Smartmatic International was tantamount to committing estafa (fraud) against the nation, Gordon said the Commission on Elections could actually file a case against TIM as he stressed there was "no jutifiable reason" for the pullout.

"They made Comelec believe that it was together with Smartmatic they bidded all the way and there is no reason for them not to do it,'' he said.

The senator said Comelec could do limited source bidding and with the help of Congress come up with a resolution simplying the bidding procedure for the automation project.

"The country cannot be held hostage by just one bidder. We have fought long and worked hard for the passage of this law," said Gordon.