INSUBCONTINENT EXCLUSIVE:
However, SAT partly allowed disgorgement of the Rs
overturned the markets regulator's order banning PriceWaterhouse Coopers from auditing any listed company for two years for its role in
the Rs 7,800-crore Satyam scam
However, Securities Appellate Tribunal or SAT partly allowed disgorgement of the Rs 13 crore fee from the auditor
Big Four global accounting firms, SAT said, only the national auditors watchdog ICAI (Institute of Chartered Accountants of India) can take
quality of audit and auditing services
Sebi can only take remedial and preventative action
The direction issued is neither remedial nor preventive
But punitive," SAT said.If there was any dereliction of duties, it was on the part of the two partners for which the other 10 firms cannot
founder-chairman B Ramalinga Raju had publicly admitted and confessed to large-scale financial manipulations to the tune of over Rs 5,000
Soon after the admission, the government superseded the Satyam board and initiated a sale process, which in April that year ended Tech
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