SEBI moves SC challenging SAT's order on Satyam scam

The Securities and Exchange Board of India (SEBI) has moved the Supreme Court challenging the Securities and Appellate Tribunal's (SAT) order on the Satyam scam on October 22. Early last month, the SAT had overturned SEBI's order in the Satyam Computer Services fraud case. In January 2018, market regulator SEBI had banned auditor Price Waterhouse (PW) from auditing listed companies in India for two years. SEBI had alleged that PW had colluded with Satyam's management. However, SAT had said that SEBI does not have the authority to decide upon the quality of audit standards and services. It added that SEBI can only take remedial and preventive action, and the ban on PW was neither.