Supreme Court raps Sebi for dragging its feet in Satyam auditor case

Sets six-month deadline to conclude proceedings in the case against Price Waterhouse

The Supreme Court on Tuesday severely criticised the Securities and Exchange Board of India (Sebi) for dragging its feet in the prosecution of the auditors of erstwhile Satyam Computer Services for seven years and directed the whole-time member to conclude the proceedings in six months.

The court noted that a "trivial" issue was allowed to be dragged on since 2010 just because there is provision for appeals.

The bench presided over by Chief Justice J S Khehar was hearing the appeal of Sebi against the order of Securities Appellate Tribunal (SAT) which had asked it to provide documents and statements of witnesses