The Supreme Court, on January 10, directed SEBI to expedite the enquiry against the audit firm and conclude the probe within six months. The regulator has already submitted a statement in the Supreme Court seeking an extension of the deadline. The counsels for Price Waterhouse will support the plea for extension but are likely to ask for more than three months. “We are at the fag end of the Supreme Court deadline but the cross-examination is far from over,” said a person directly involved in the matter. The case goes back to 2010 when SEBI issued a show-cause notice to Price Waterhouse, among many other entities, after it emerged that the accounts of Satyam were falsified and inflated.

Source: The Hindu June 25, 2017 15:22 UTC