New Delhi: The Supreme Court on Monday stayed an order of the Securities Appellate Tribunal which had held that markets' watchdog SEBI does not have the power to bar auditors.
A bench comprising Justices Arun Mishra and Indira Banerjee also issued notice on the appeal filed by the Securities and Exchange Board of India (SEBI) against the SAT's September 9 order.
The SAT, in its order which set aside the ban on audit firm Price Waterhouse (PwC), had noted that SEBI does not have the power to bar auditors.
Earlier, the SEBI had challenged SAT's decision to quash a two-year ban that was imposed on PwC in connection with the Rs 7,800 crore Satyam fraud.
On January 10, 2018, the watchdog slapped a two-year ban on Price Waterhouse (PwC) from auditing any listed company in connection with PwC's role in the Satyam scam.
