Thiruvananthapuram: A day after corruption allegations from Leader of Opposition Ramesh Chennithala regarding the e-mobility project, the company, PricewaterhouseCoopers, has come out with an explanation.
The UK based company clarified that the entity working for the Kerala Government’s Department of Transport is PricewaterhouseCoopers Private Limited (“PwCPL”).
In a press release, the company explained that PwCPL is a limited liability company which provides consulting services and is not an audit firm. The Securities and Exchange Board of India (SEBI) order of January 2018 neither applied to PwCPL nor did it impose any restriction on PwCPL whatsoever, the company clarified.
Moreover, the company added that the SEBI order, which had restricted Price Waterhouse audit firms from providing audit services for two years, was set aside by the Securities and Appellate Tribunal (SAT) in September 2019.
“SEBI subsequently appealed the SAT order before the Supreme Court and the matter is now sub-judice. However, there is no stay imposed by the apex court on the ability of any Price Waterhouse audit firms in India to render their services,” PricewaterhouseCoopers said.
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