Price Waterhouse, Bangalore

SAT-appeal

• SAT matter SATV-29910979D53C1E2E615ABE30
  Impugned SEBI orders dated 19 May, 31 May, 5 June and 15 June 2017 were set aside. · SEBI to produce specified witnesses for further cross-examination as expeditiously as possible.
  Appeal: Appeal Nos. 138, 139, 140 and 141 of 2017 allowed and disposed of on 21 June 2017; amendment order issued on 23 June 2017.
• Statutory auditors connived / gross negligence in certifying falsified Satyam financials with inflated cash, FDs, revenues and debtors, violating fraud provisions.
  PW firms shall not issue audit / compliance certificates for listed companies and SEBI intermediaries for 2 years · S. Gopalakrishnan and Srinivas Talluri shall not issue audit / compliance certificates for listed companies for 3 years
  Appeal: Appeal Nos 6, 7, 190 and 191 of 2018 clubbed for common order; reserved on 04.04.2019, decided on 09.09.2019
• Statutory auditors allegedly connived/negligent in certifying falsified Satyam accounts with inflated bank/FD balances, revenues, debtors and interest as true and fair.
  PW brand CA firms barred 2 years from issuing audit/compliance certificates for listed companies/SEBI intermediaries · S. Gopalakrishnan and Srinivas Talluri barred 3 years from issuing audit/compliance certificates for listed companies
• SAT matter SATV-C0BEBC7258B2BF4C5DE49ADA
  Set aside 4 SEBI orders dated 19 May 2017, 31 May 2017, 5 June 2017 and 15 June 2017 · Appeal Nos. 138-141 of 2017 allowed with no order as to costs
  Appeal: Appeal Nos. 138, 139, 140 and 141 of 2017 decided 21.06.2017 amended 23.06.2017 - allowed, impugned orders set aside
• Statutory auditors of Satyam (SCSL) allegedly connived / grossly negligent over 8 years, certifying false inflated financials without verification, aiding fraud under PFUTP.
  PW brand CA firms shall not issue audit/compliance certificates for listed cos/intermediaries for 2 years · S. Gopalakrishnan and Srinivas Talluri shall not issue audit/compliance certificates for listed cos for 3 years
  Appeal: Appeal Nos. 6, 7, 190 and 191 of 2018 decided 09.09.2019 (reserved 04.04.2019) against common WTM order