Satyam scam: SEBI not to allow PW quiz Raju

MUMBAI: Market regulator SEBI on Wednesday turned down a request from PriceWaterhouse (PW) to allow the firm to cross-examine Ramalinga Raju, Rama Raju and other former officials of Satyam, who are accused in a fraud case running into nearly Rs 8,000 crore.

SEBI has also denied PW permission to cross-examine Srinivas Talluri, a former partner at the firm, who was responsible for statutory audit at Satyam when the frauds took place. However, PW has been allowed to cross-examine eight people, including some who were with Talluri and had audited Satyam's accounts, and G Ramakrishna, the former vice-president (finance) at Satyam.

The SEBI ruling relates to the regulator's show-cause notice to associate firms under the PriceWaterhouse network, that included PriceWaterhouse, Lovelock & Lewes and Dalal & Shah related to the Satyam fraud that came in the open in January 2009.