scorecardresearch
Follow Us:
Thursday, August 11, 2022

Sebi right authority to probe PW: ICAI

ICAI said Sebi is the right authority to probe allegations of irregularities against the audit firm.

Written by Agencies | New Delhi |
August 15, 2010 1:47:56 pm

Expressing satisfaction over the Bombay High Court order,ICAI today said Sebi is the right authority to probe allegations of irregularities against audit firm Price Waterhouse in the multi-crore Satyam scam.

“ICAI,as institute,cannot proceed against any firm.

Sebi has the authority to do it,in the interest of shareholders,” Institute of Chartered Accountants in India (ICAI) President Amarjit Chopra said while commenting on the Bombay High Court ruling that dismissed the petition of Price Waterhouse.

The Bombay High Court on Friday ruled that the Securities and Exchange Board of India (Sebi) can proceed with its inquiry against audit firm Price Waterhouse for its alleged role in Satyam scam.

Subscriber Only Stories
Why Nitish Kumar felt the absence of Sushil Modi, ‘Jaitley channel’Premium
RSS shake-up for BJP: Why and where allPremium
Indian Monsoon 2022 Live Updates: 2 dead as heavy rains lash Himachal; 3 ...Premium
Delhi Confidential: Shashi Tharoor to receive Legion Of Honour, France&#8...Premium

Price Waterhouse had moved the High Court challenging Sebi’s jurisdiction over the audit firm as it has nothing to do with the securities market.

“Price Waterhouse is caught in its own web.

📣 Join our Telegram channel (The Indian Express) for the latest news and updates

For all the latest News Archive News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
First published on: 15-08-2010 at 01:47:56 pm

Featured Stories

Advertisement
Advertisement
Advertisement
Advertisement