Sebi moves Supreme Court against SAT's order in Price Waterhouse case

The Securities and Exchange Board of India (Sebi) has appealed in the Supreme Court against the Securities Appellate Tribunal (SAT) order in the Price Waterhouse (PW) case. On September 9, the tribunal had quashed the order passed by the regulator against the global audit firm for its role in the Satyam scandal. 

Many believe the SAT order has cast doubt over Sebi’s regulatory turf and whether it has the power to impose strictures against auditors, who are regulated by the ICAI.

“The SAT order raises an important jurisdictional point. At present, the National Financial Reporting Authority is not fully functional. Even assuming