Partial relief coming in for audit firm Price Waterhouse – the Securities Appellate Tribunal (SAT) has refused to lift a Securities and Exchange Board of India (Sebi) ban on the company. However, the tribunal has offered a partial respite.
Last week Sebi had barred Price Waterhouse from auditing listed companies for a period of two years, after a probe into the Satyam accounting fraud case. Now SAT has allowed the auditing firm to service its existing clients whose financial year started on January 1, 2018.
Watch accompanying video of CNBC-TV18’s Yash Jain for more details.