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November 28, 2010

Satyam trial into auditors gets go ahead

Writ petitions that attempted to delay a trial
into the role of auditors in the Satyam Computer Services fraud had
been dismissed by the High Court of Delhi.

This means a criminal trial into the actions
of Price Waterhouse auditors S. Gopalakrshnan and Srinvias Tallure
may proceed nearly two years after the scandal broke.

The auditors each filed petitions, which had
been granted interim stay orders until a hearing could determine
their legitimacy.

Legal experts argue using writ petitions to
block the proceedings are little more than delaying tactics.

The Institute of Chartered Accountants of
India (ICAI) president Amarjit Chopra has previously expressed
frustration at the use of this strategy to stall the investigation,
which is being led by the ICAI’s Disciplinary Committee.

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