The Securities Appellate Tribunal (SAT) on Tuesday deferred hearing in Price Waterhouse's (PW's) appeal against an order passed by the market regulator Securities and Exchange Board of India (Sebi). The tribunal will next hear the matter on Friday. The matter was adjourned as only one member of the tribunal was present. Both the Sebi and PW counsels argued that since the full bench SAT bench was present, a postponement was needed.
On January 10, Sebi banned PW from providing audit services to listed companies and market intermediaries for two years for its alleged involvement in the Satyam fraud case. PW has challenged the matter.
The first hearing in the matter took place on January 19 during which SAT provided partial relaxation to PW by allowing it to continue its relationship with its existing clients.