Tribunal refuses stay on PW ban

The Securities Appellate Tribunal on Friday refused to grant a stay on the two-year SEBI ban imposed on Price Waterhouse (PW) and its network entities from taking up new audit work for listed companies. On January 10, the markets watchdog SEBI passed an order against the audit major for its alleged complicity in the multi-crore Satyam Computer Services scam. Posting the matter for further hearing on February 13, SAT however clarified that PW and its networking entities can continue serving its existing clients.