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National Financial Reporting Authority (NFRA) vs CA Chirag Doshi (Auditor of Ushdev International Limited) – ₹5 Lakh Penalty for Audit Failures, Non-Reporting of Fraud Indicators and Violations of Companies Act, 2013
Facts of the Case
Ushdev International Limited was a listed company engaged in
business operations involving substantial banking facilities.
The company entered insolvency proceedings under the Insolvency and
...
CA Chetan Desai & CA Rakesh Rathi vs National Financial Reporting Authority (NFRA) | NFRA Order on Audit Lapses in D B Realty Limited (FY 2015-16)
Facts of the CaseThe Securities and Exchange Board of India (SEBI)
informed NFRA regarding alleged misstatements in the financial statements of D
B Realty Limited (DBRL) for FY 2015-16. Based on the information receive...
NFRA Penalises Auditor for Failure to Report Fraud, Inadequate Audit Evidence and Non-Compliance with Standards on Auditing – Religare Finvest Limited Case In the matter of CA Neeraj Bansal (ICAI Membership No. 095960), Engagement Partner and Statutory Auditor of Religare Finvest Limited (RFL) for FY 2017-18 under Section 132(4) of the Companies Act, 2013.
Facts of the CaseThe National Financial Reporting Authority (NFRA) initiated
proceedings against CA Neeraj Bansal, Engagement Partner (EP) and Statutory
Auditor of Religare Finvest Limited (RFL) for FY 2017-18. The pro...
CA Yogesh Mahipal v. National Financial Reporting Authority (NFRA) | Professional Misconduct in Statutory Audit of Vikas Proppant & Granite Ltd. – Penalty, Debarment and Audit Failures under Companies Act, 2013
Facts of the CaseThe National Financial Reporting Authority
initiated proceedings against CA Yogesh Mahipal, proprietor of M/s Yogesh
Mahipal & Associates, who acted as Engagement Partner and statutory auditor
of ...
NFRA Circular NF-22/52/2025-NFRA All Statutory Auditors of Public Interest Entities (PIEs) covered under Rule 3 of NFRA Rules, 2018 on Audit File Maintenance, Retention & Submission to NFRA – Mandatory Compliance under SA 230, SA 200, SA 500 & SQC 1 | Timelines, Integrity & Penalties
National Financial
Reporting Authority7th Floor,
Hindustan Times HouseKasturba Gandhi Marg, New DelhiNF-22/52/2025-NFRADate: 16 December 2025CircularTo
All Statutory Auditors of Public Interest Entities (PIEs) covered...