Edelweiss appoints new auditor to replace PwC

Edelweiss Finance has appointed S R Batliboi & Co as the new auditors of the company as its earlier auditing firm Price Waterhouse Chartered Accountants (PWC), enmeshed in the billion-dollar Satyam corporate fraud, has resigned citing compelling assignments.

The board of directors has approved the appointment of M/s S. R. Batliboi & Co & LLP as the auditors of the company subject to the approval of shareholders, Edelweiss said in a late evening release to stock exchanges.

Earlier in January , the Securities and Exchange Board of India (SEBI) barred Price Waterhouse from auditing listed companies in the country for two years, after a probe into a nearly decade-old accounting fraud case in a software services company Satyam Computers.


During FY18, Edelweiss had appointed them as statutory auditors for a five-year term. Now, Batliboi has been signed in for the same time period.