ICAI Proceeding | Talluri Deferred Till Oct 3 ,2011 | Justices D K Jain | A K Ganguly
New Delhi: The Supreme Court on Monday asked accounting regulator, the Institute of Chartered Accountants of India, to defer its disciplinary proceedings initiated against PriceWaterhouse auditor Talluri Srinivas, who is embroiled in the multi-crore Satyam accounting fraud, till October 3.
A bench of Justices D K Jain and A K Ganguly asked the ICAI to resume proceedings against Srinivas only after October 3 as the criminal trail before the special court may conclude its hearing by September.
However, the bench clarified that if the Hyderabad-based special court does not complete its trial by then, ICAI can commence its proceedings against the former Price Waterhouse auditor. These are professional institutions and we should not interfere much into that,” it said, adding that “ICAI shall ensure that the date fixed by it for hearing does not clash with the trial.”Talluri had challenged the Delhi High Court’s order.
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