In partial relief to two accused in the multi-crore Satyam scam, the Bombay High Court on Monday directed the Securities and Exchange Board of India (Sebi) not to begin its independent inquiry into the controversy until May 7.The court's direction came after the two auditors alleged to be involved in the scam, S Gopalakrishnan and Talluri Srinivas, moved a petition demanding that Sebi should be restrained from holding its own inquiry while criminal proceedings are on against them. Arguing for the petitioners before a division bench of Chief Justice Mohit Shah and Justice Ranjit More, senior lawyer Fredun De Vitre contended that appearing before SEBI could adversely affect their defence in the ongoing criminal trial.
Source: Financial Express
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