Sunday 9 December 2018
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business-standard - 2 days ago

SC allows Price Waterhouse to do business till disposal of its appeals in SAT

The Supreme Court Friday granted relief to the global audit firm Price Waterhouse, allowing it to carry out business in India till March 31, or till the disposal of its appeal by SAT, whichever is later. It also granted liberty to the audit firm to raise contention for further extension of time before the Securities Appellate Tribunal (SAT). A bench of Justices R F Nariman and K M Joseph said that the only possible relief for the audit firm is that the interim order is extended till March 2019 or till the disposal of appeals by the tribunal, whichever is later. Having heard the parties, we are of the view that interim order to continue till March 31, 2019 or till the tribunal decides the appeal, whichever is later. It will be open to the petitioner to raise its contention before the tribunal for further extension of time, the bench said. At the outset, senior advocate Mukul Rohatgi, appearing for the PW stated the tribunal has said that the audit firm cannot take any new clients and

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