Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: VAT RATES :: form 3cd :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARD :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« News Headlines »
 Seven things you must do before 31st March
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya
 No decision yet on imposing tax on cash transactions

Satyam scam: SEBI vs Price Waterhouse, verdict on Aug 13
August, 12th 2010

At the Bombay High Court, Securities and Exchange Board of India (SEBI) and Price Waterhouse completed their arguments today in their tussle related to the Satyam scam.

For starters what is the question of law over here, are chartered accountants in their capacity as per professionals acting as auditors covered under the SEBI Act? That is a million dollar question, which the division bench of the Bombay High Court will answer when it passes its judgment on Friday that is August 13, 2010.

The arguments of both the parties are over today. Significantly, the Price Waterhouse Counsel sought a quashing of all the show cause notices that were issued by SEBI under Fraudulent & Unfair Trade Practices (FUTP) regulations. These show cause notices were related to the Satyam scam.

The Price Waterhouse counsel also pointed out that in an earlier order the Income Tax Appellate Tribunal had directed a case of auditor misconduct to the Institute of Chartered Accountants of India (ICAI). Then he went to point out that the power to remove or suspend auditors rest only with the ICAI and this above right has been interfered by SEBI.

In response, the SEBI counsel pointed out that SEBI is in no mood to use up anyones powers and that auditors have a direct relationship with shareholders and that is why they have a direct association with the share market. Hence, they come under SEBIs ambit. We will have to look at Friday, August 13, to get to know the answer to this question.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions