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National Financial Reporting Authority (NFRA) vs M/s Sundaresha & Associates & CA C. Ramesh | Audit Failure, Independence Violation, Audit File Tampering & Professional Misconduct in Tanglin Developments Ltd. Audit under Section 132(4) of the Companies Act, 2013
Facts of the CaseThe matter arose from information shared by SEBI
regarding diversion of approximately ₹3,535 Crores from seven subsidiary
companies of Coffee Day Enterprises Limited (CDEL) to Mysore Amalgamated Coff...
CA Hemant Khator vs National Financial Reporting Authority (NFRA) | Professional Misconduct in Statutory Audit of Women Next Lingeries Ltd. under Section 132(4) of the Companies Act, 2013
Facts of the
CaseThe National Financial Reporting Authority (NFRA),
exercising powers under Section 132(4) of the Companies Act, 2013, initiated
disciplinary proceedings against CA Hemant Khator, Engagement Partner of...
National Financial Reporting Authority (NFRA) Vs CA Rakesh Puri (Engagement Partner of M/s Y.D. & Co.) | Audit Failure in Sun and Shine Worldwide Ltd. Case | Penalty and 5-Year Debarment under Section 132(4) of Companies Act, 2013
Facts of the CaseSun and Shine Worldwide Limited (SSWL), a company
listed on the Bombay Stock Exchange and engaged in commodity futures trading,
reported extraordinarily high sales and purchase figures in its financial...
National Financial Reporting Authority (NFRA) vs M/s Sundaresha & Associates & Ors. | Professional Misconduct in Audit of Giri Vidhyuth (India) Ltd. under Section 132(4) of the Companies Act, 2013
Facts of the Case
GVIL was a subsidiary company within the Coffee Day Group.
Investigations conducted following disclosures relating to
diversion of funds from Coffee Day Enterprises Limited (CDEL) revea...
CA Gautam Guha vs National Financial Reporting Authority (NFRA) | Professional Misconduct in Statutory Audit of Nicco Uco Alliance Credit Limited
Facts of the CaseThe Financial Reporting Review Board (FRRB) of the
Institute of Chartered Accountants of India identified several irregularities
in the financial statements of Nicco Uco Alliance Credit Limited for FY
...
National Financial Reporting Authority (NFRA) vs M/s M H Dalal & Associates & CA Devang Dalal NFRA Imposes Penalty and Debarment for Gross Audit Failures in MAN Industries (India) Limited Audit – Failure to Obtain Sufficient Audit Evidence, Non-Compliance with Ind AS and Standards on Auditing
Facts of the
CaseThe National Financial Reporting Authority (NFRA)
initiated proceedings under Section 132(4) of the Companies Act, 2013 against
M/s M H Dalal & Associates, Chartered Accountants, and CA Devang Dal...
National Financial Reporting Authority (NFRA) vs. CA Sachin Kansal (Engagement Partner of Anshu's Clothing Ltd.) – Professional Misconduct in Statutory Audit under Section 132(4) of the Companies Act, 2013
Facts of the CaseThe National Financial Reporting Authority (NFRA)
initiated an investigation based on information received from the Ministry of
Corporate Affairs regarding irregularities observed by the Financial Repo...
National Financial Reporting Authority (NFRA) vs M/s ASRMP & Co., CA A.S. Sundaresha & CA Madhusudan U.A. | Audit Failures in Coffee Day Global Limited Matter | NFRA Order No. 24/2023
Facts of the CaseCoffee Day Global Limited (CDGL), a subsidiary of
Coffee Day Enterprises Limited (CDEL), was subjected to scrutiny following
investigations revealing diversion of funds amounting to approximately ₹3,...
National Financial Reporting Authority (NFRA) vs CA Riya Agarwal | Penalty for Failure of Engagement Quality Control Review (EQCR) in Burnpur Cement Limited Audit under Section 132(4) of the Companies Act, 2013
Facts of the CaseBurnpur Cement Limited (BCL), a listed company
engaged in the cement manufacturing business, was required to prepare its
financial statements for FY 2017-18 in accordance with Indian Accounting
Standa...
National Financial Reporting Authority (NFRA) vs CA Shekhar Sharad | Auditor Held Guilty for Failure to Assess Going Concern Assumption and Violation of SA 570, SA 705 & SA 706 in Burnpur Cement Limited Audit
Facts of the CaseBurnpur Cement Limited (BCL), a listed cement manufacturing
company, prepared its financial statements for FY 2017-18 on a going concern
basis despite severe financial distress.The company had reported...