Comments
Stock market regulator rejected the request of the Price Waterhouse auditors in the Satyam fraud, Mr Srinivas Talluri and Mr S. Golpalakrishnan seeking abeyance of the present proceedings till the trial in the three criminal cases against them were completed.
SEBI quashed all three reasons provided by the noticees. Both auditors had requested abeyance on the following grounds. One, they were in judicial custody and were incapacitated to reply to SEBI's show cause notices or come in person for the hearing.
Two, being chartered accountants they could not be lawfully subjected to SEBI's jurisdiction.
Three, replying to the show cause notices at that stage would severely prejudice their positions in the criminal cases pending trial.
All three grounds were rejected by SEBI, which fixed the next date of hearing on Saturday, February 5 (a day when courts are closed) at its head office in Mumbai.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.