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SEBI bans Price Waterhouse for Satyam scam role

ANI  |  New Delhi [India] 

The Securities and Exchange Board of (SEBI) on Thursday barred global auditing firm from issuing audit certificates to any listed company in for two years for its alleged collusion in the multi-crore Services scam.

The capital market regulator also ordered disgorgement of over Rs. 13 crore wrongful gains from the audit major and it's two erstwhile partners, S and Srinivas Talluri, who worked on Satyam's accounts.

SEBI's order comes nearly nine years after the scam at Services surfaced and after two failed attempts by to settle the case through consent mechanism.

This is also one of the most stringent orders passed by any regulator against a 'Big Four' audit major.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 11 2018. 16:45 IST