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National Financial Reporting Authority vs. CA Rukshad Daruvala (Membership No. 111188) Order under Section 132(4) of the Companies Act, 2013
Facts of the
Case
NFRA issued a Show Cause Notice (SCN) on 28.01.2020 to CA
Rukshad Daruvala, Engagement Quality Control Reviewer (EQCR) in the
statutory audit of ILFS Financial Services Ltd (IFIN) for FY
...
CA Shrenik Baid vs. National Financial Reporting Authority — Order under Section 132(4), Companies Act, 2013
Facts of the
Case
SCN & procedure: NFRA
issued an SCN (24 Jan 2020); CA filed writ proceedings in Delhi HC and
submitted interim/pro tem replies; NFRA proceeded after giving
opportunities to rep...
National Financial Reporting Authority vs. CA Gulshan Jagdish Jham (ICAI Membership No. 408315) Order under Section 132(4) of the Companies Act, 2013
Facts of the
Case
A Show Cause Notice was issued to CA Gulshan Jagdish Jham
for his audit of Prabhu Steel Industries Limited (PSIL) for FY
2019–20.
PSIL, listed on BSE, failed to comply with Ind AS and...
National Financial Reporting Authority vs. CA Som Prakash Aggarwal (ICAI Membership No. 74813) Order under Section 132(4) of the Companies Act, 2013
Facts of the
Case
SEBI reported that Vikas WSP Limited (VWL) failed to
recognize interest expense on borrowings in FY 2019–20, overstating
profits.
VWL, listed on BSE and NSE, was required to comply wi...
National Financial Reporting Authority vs. CA Rajiv Bengali (ICAI Membership No. 043998) Order under Section 132(4) of the Companies Act, 2013
Facts of the
Case
Information was received from the Registrar of Companies, Mumbai,
regarding possible non-compliance with auditing standards by the statutory
auditor of Trilogic Digital Media Limited (TDM...
Brigadier Vivek Kashinath Chhatre vs Mahindra Holidays & Resorts India Ltd. (MHRIL) – NFRA Finds Deficiencies in Segment Reporting and Revenue Recognition under Ind AS 108 & Ind AS 115
Facts of the CaseBrigadier Vivek Kashinath Chhatre,
a member of Mahindra Holidays & Resorts India Limited (MHRIL), filed a
complaint alleging several irregularities in the functioning of MHRIL,
including accountin...
National Financial Reporting Authority (NFRA) vs CA Akash Goel – Professional Misconduct in DHFL Branch Audit Due to Invalid Appointment, Violation of Standards on Auditing and Failure to Exercise Due Diligence under the Companies Act, 2013
Facts of the
CaseDHFL, a listed housing finance company, was
allegedly involved in large-scale financial irregularities and fraud. During
NFRA’s Audit Quality Review of the statutory audit of DHFL for FY 2017-18, it...
CA Akash Goel vs National Financial Reporting Authority (NFRA) | DHFL Branch Audit Misconduct Case under Section 132(4) of the Companies Act, 2013
Facts of the CaseDHFL, a listed housing finance company, was
allegedly involved in large-scale financial irregularities and fraud. NFRA
initiated a suo motu Audit Quality Review concerning the statutory audit of
DHFL ...
CA Ayna Tamton vs National Financial Reporting Authority (NFRA) – Correction in NFRA Order concerning Dewan Housing Finance Corporation Limited (DHFL) under Section 132(4) of the Companies Act, 2013
Facts of the CaseNFRA observed clerical and
nomenclature-related inaccuracies in the description and certain paragraphs of
its disciplinary orders issued against Chartered Accountants Akash Goel and
Ayna Tamton.To rem...
CA Sam Varghese vs National Financial Reporting Authority (NFRA) | Invalid Branch Auditor Appointment, Professional Misconduct under Section 132(4) of Companies Act, 2013 in DHFL Branch Audit Matter
Facts of the
Case
DHFL was a listed housing finance company operating through
multiple branches across India.
NFRA initiated an Audit Quality Review of DHFL's statutory audit
for FY 2017-18 after allega...