Taking note of a PIL filed by Prashant Bhushan for the Centre for Public Interest Litigation, the Supreme Court today gave four weeks for replies from the firm as well as a host of government authorities and regulators like the Reserve Bank of India.
PW India violated its most fundamental duty as a public watchdog - say the SEC and the PCAOB of Pricewaterhouse India’s role in the Satyam fraud. The two American regulators have imposed their largest ever penalties on PW India, USD 6 million by the SEC and USD 1.5 million by the PCAOB.
Mahindra Satyam reached a settlement with the Securities and Exchange Commission (SEC) of United States in the best interests of the company and shareholders, the company said today.