Mumbai, August 11: The Bombay High Court is expected to give its verdict on the SEBI and PricewaterhouseCoopers (PWC) case on August 13.
The case revolves around the question of whether the Securities And Exchange Board of India (SEBI) can hold an inquiry against PWC, which is an international auditors’ firm.
Arguments in the case concluded today and the division bench of Justices P B Majmudar and R M Savant said it would dictate its order in open court on Friday.
SEBI had issued a showcause notice to PWC in the aftermath of the Satyam scam, as the latter was associated with Satyam for several years and its alleged role in concealing the scam had come under scrutiny.
PWC then moved the Bombay High Court, saying that SEBI — being a stock market regulator — has no jurisdiction to issue showcause notice to auditors’ firm.
–Agencies