PwC hires law firms anticipating tussle with Reliance Group

Price Waterhouse & Co, an affiliate of Pricewaterhouse Coopers, has hired three law firms as it expects a legal tussle to erupt following its decision to resign as the auditor of Reliance Capital and Reliance Home Finance. PwC has engaged Shardu lAmarchand Mangaldas, J Sagar and AZB, and asked them to prepare a defence against not just the Anil Ambani-led Reliance Group but also regulators and probe agencies such as the National Financial Reporting Authority (NFRA) and the Serious Fraud and Investigation Office (SFIO).