ICAI agrees to withdraw proceedings against PWH Delhi
By admin at 4 November, 2009, 5:50 pm
Accountancy regulator ICAI today agreed to withdraw disciplinary proceedings against the Delhi branch of the audit firm Price Waterhouse in the multi-crore Satyam scam.
Advocate C S Vaidyanathan, appearing for Institute of Chartered Accountants of India (ICAI), agreed to withdraw the proceedings after the Delhi High Court objected to ICAI taking action against the Delhi franchise of the firm without giving any evidence that it was related to PWH, Bangalore which was the statutory auditor of Satyam.
Justice Sanjiv Khanna accepted the plea of the regulator and allowed it to issue fresh notice to the Delhi franchise in case it found any evidence regarding involvement of this firm in the scam.
Source : ptinews
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