Now PWC wants to stay/delay the SEBI proceedings

Capital market regulator Sebi said it would pass an exparte order against Srinivas Talluri and S Gopalakrishnan, former partners at Satyam’s auditor Price Waterhouse (PW), if they failed to appear for an hearing on February 5. “In case the noticees fail to appear in person or through any representative and make arguments on merits of the case on the given date and time, the Sebi proceedings shall be concluded ex-parte on the basis of the material available on records,” said MS Sahoo, whole-time member, Sebi, in an order on Tuesday. Both former partners had requested Sebi to keep their proceedings at abeyance till the ongoing criminal trials are concluded. They argued that there was a lot of commonality in the allegations made by Sebi and CBI in their show-cause notices. Both of them submitted that their response in the present proceedings would amount to disclosing their defense which would seriously prejudice them in the criminal trials.