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CA T. Raghavendra vs National Financial Reporting Authority (NFRA) | Professional Misconduct in Statutory Audit of Bartronics India Limited | Penalty of ₹5 Lakhs and 10-Year Debarment
Facts of the CaseThe Ministry of Corporate Affairs referred the
matter to NFRA after the Financial Reporting Review Board (FRRB) of ICAI
observed significant irregularities in the financial statements of Bartronics
In...
National Financial Reporting Authority (NFRA) vs M/s Sundaresha & Associates & Ors. | Failure to Detect Fraudulent Diversion of Funds, Evergreening of Loans, Audit Negligence and Professional Misconduct in Tanglin Developments Ltd (Coffee Day Group) Audit
Facts of the CaseThe matter arose from investigations conducted by
the Securities and Exchange Board of India (SEBI) regarding diversion of funds
amounting to approximately ₹3,535 Crores from various subsidiary compa...
National Financial Reporting Authority (NFRA) vs M/s K. Pandeya & Co. & CA Manjeet Kumar Verma | Audit Negligence, Going Concern Assessment Failure, Income Tax Liability Non-Disclosure and Professional Misconduct under Section 132 of Companies Act, 2013
Facts of the CaseBurnpur Cement Limited (BCL), a listed company
engaged in cement manufacturing, was subjected to statutory audit for the
Financial Year 2018-19 by M/s K. Pandeya & Co., with CA Manjeet Kumar Verma
...
CA Apoorve Bansal vs National Financial Reporting Authority (NFRA) | Penalty and Debarment for Failure as Engagement Quality Control Reviewer in SRS Limited Audit
Facts of the CaseThe Serious Fraud Investigation Office (SFIO)
conducted an investigation into the affairs of SRS Limited and its group
companies and shared its findings with NFRA. The investigation revealed alleged
f...
National Financial Reporting Authority (NFRA) vs CA Supreet Sachdev (BSR & Co. LLP) – Penalty for Audit Failure in Sobha Limited Case under Section 132(4) of the Companies Act, 2013
Facts of the CaseNFRA initiated proceedings against CA Supreet
Sachdev, the Engagement Partner of BSR & Co. LLP, who conducted the
statutory audit of Sobha Limited for FY 2017-18 and FY 2018-19. The proceedings
we...
CA Vishwanath Goswami vs National Financial Reporting Authority (NFRA) | DHFL Branch Audit Case | Penalty and Debarment for Professional Misconduct under Companies Act, 2013
Facts of the CaseThe National Financial Reporting Authority (NFRA)
initiated an investigation into the professional conduct of CA Vishwanath
Goswami, who acted as the Engagement Partner and branch auditor for six
bran...
National Financial Reporting Authority (NFRA) vs CA S.K. Senapati (Engagement Partner, ABPS & Associates) | DHFL Branch Audit Case | Penalty and Debarment for Professional Misconduct under Section 132(4) of the Companies Act, 2013
Facts of the CaseThe National Financial Reporting Authority (NFRA)
conducted an investigation into the professional conduct of CA S.K. Senapati,
Partner of M/s ABPS & Associates, who acted as the Engagement Partner...
National Financial Reporting Authority (NFRA) vs. CA M. Vaman Karnath – Professional Misconduct in DHFL Branch Audit Due to Invalid Appointment, Audit Documentation Failures and Violations of Standards on Auditing
Facts of the
CaseCA M. Vaman Karnath, Partner of M/s Karnath &
Karnath Associates, acted as the Engagement Partner for the statutory audit of
ten branches of Dewan Housing Finance Corporation Limited (DHFL) for th...
National Financial Reporting Authority (NFRA) vs. CA M. Vaman Karnath – Professional Misconduct in DHFL Branch Audit Due to Invalid Appointment, Audit Documentation Failures and Violations of Standards on Auditing
Facts of the
CaseCA M. Vaman Karnath, Partner of M/s Karnath &
Karnath Associates, acted as the Engagement Partner for the statutory audit of
ten branches of Dewan Housing Finance Corporation Limited (DHFL) for th...
NFRA vs CA Vijay Singh Pamecha – DHFL Branch Audit Case | Invalid Appointment as Branch Auditor, Audit Documentation Failures, SA Violations and Auditor Debarment under Section 132(4) of Companies Act, 2013
Facts of the CaseDewan Housing Finance Corporation Limited (DHFL), a
listed housing finance company, was allegedly involved in large-scale financial
irregularities and fraud. During NFRA's Audit Quality Review of the s...