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SC stays SAT’s order on SEBI’s power to bar auditors from auditing books of listed co.

November 20, 2019[2019] 111 taxmann.com 347 (SC)

SEBI : Supreme Court stays operation of para 78 of order of SAT in Price Waterhouse & Co. v. Securities & Exchange Board of India [2019] 109 taxmann.com 79 (SAT - Mumbai) where it was held that SEBI did not have power to bar auditors from auditing books of a listed company, as such direction was clearly punitive and violative of article 19(1)(g) of Constitution of India as it took away fundamental right to carry on its business

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