9 years after Satyam scam, Price Waterhouse banned from audit for 2 years

Nine years after Satyam scam, Sebi orders Rs 130.9-million disgorgement; audit firm says it is confident of getting order stayed

The Securities and Exchange Board of India (Sebi) late on Wednesday banned Price Waterhouse (PW) from providing audit services to listed companies and market intermediaries for two years in the Satyam fraud case. Two PW partners have been banned for three years.

The regulator also imposed a disgorgement of Rs 130.9 million on Price Waterhouse, and two of its chartered accountants — S Gopalakrishnan and Srinivas Talluri. The three entities also have to pay 12 per cent interest on the disgorgement amount since January 7, 2009, in 45 days from the date of the order.
 

Further, it said that no listed