Delhi HC directs ICAI to put Satyam scam on fast track

The Delhi High Court has allowed proceedings by the Institute of Chartered Accountants of India (ICAI) against two Satyam auditors, reports CNBC-TV18.

Furthermore, ICAI can now take disciplinary actions against two former PricewaterhouseCoopers auditors Subramani Gopalakrishnan and Srinivas Talluri. "The court has directed ICAI to hold the hearings on regular intervals and conclude the matter on a fast track basis," the apex chartered accountants body added. 

Earlier, in 2009, the ICAI had set up six-member special committee to look into the auditing of fraud-hit Satyam Computer Services (now Mahindra Satyam), whose former founder-chairman B Ramalinga Raju fudged the accounts of the Hyderabad-based IT major.