SAT to hear PwC-Sebi case on March 16

PriceWaterhouseCoopers-Sebi case before the Securities Appellate Tribunal (SAT) will come up for hearing next on March 16,a company official said. The matter came up before SAT last week and hearing continued. The case relates to the Satyam accounting scam where its Founder B Ramalinga Raju is accused of cooking up the company books. PwC was the auditor to the IT major at that time. Market regulator,Securities and Exchange Board of India (SEBI),had slapped show-cause notices on the auditor. It had turned down appeals made by PwC to hold back the probe till the criminal probe by the Central Bureau of Investigation into the Satyam scandal got over. A senior advocate representing PwC declined to comment on the proceedings today on the ground that the matter is sub-judice. PwC has been under the market regulator’s lens following the scam for its alleged failure to conduct audit of the IT firm”s accounts properly.