Vijay Mallya-led United Spirits today said its shareholders at its AGM have approved the appointment of Price Waterhouse, currently being probed for their role in Satyam scandal, as their statutory auditors.
At its ninth AGM held in Bangalore last month, the shareholders passed "unanimously" a resolution for the appointment of Price Waterhouse as "statutory auditors of the company to hold office from the conclusion of this AGM till the conclusion of the next AGM on a remuneration to be fixed by the board of directors of the company," USL said in a regulatory filing today.
The resolution was put to vote by Chairman Vijay Mallya and it was declared "carried unanimously", the company said.
Price Waterhouse, the statutory auditor of Satyam Computer, is facing a probe on their role in the financial fraud at the IT firm. Last week, two of its partners, who worked on Satyam account, were arrested by the Andhra Pradesh Police.
The auditing firm had earlier said its auditing on the books of Satyam might be construed unreliable if the financial wrongdoings admitted by the IT firm's founder and then Chairman on January 7 were correct.