Facts of the Case

NFRA issued an order dated 21.04.2023 against CA Pankaj Kumar under its statutory disciplinary jurisdiction. Subsequently, upon review, certain inadvertent errors relating to paragraph references and a date mentioned in the order were identified. To correct these inaccuracies, NFRA issued an Errata dated 22.04.2023.

Issues Involved

1.      Whether certain paragraph references in the original order required correction.

2.      Whether the date mentioned in a referenced email required rectification.

3.      Whether formal corrections were necessary to maintain accuracy and consistency in the disciplinary order.

Petitioner’s Arguments

The uploaded Errata document does not contain the submissions or arguments advanced by CA Pankaj Kumar in the original proceedings.

Respondent’s Arguments

The uploaded Errata document does not contain the submissions or arguments of NFRA in the original proceedings.

Court/Authority Findings

NFRA identified and corrected the following errors in the original order:

1.      The expression “para 33 and para 37 above” appearing in Para 39(iii) was corrected to “para 36 to 38 above”.

2.      The expression “email dated 30.102.18” appearing in Para 36 was corrected to “email dated 30.10.18”.

Court Order / Final Direction

NFRA formally issued the Errata on 22.04.2023 and directed that the above corrections be read as part of the original Order No. 20012/2/2022 dated 21.04.2023.

Important Clarification

• The uploaded document is an Errata and not the substantive disciplinary order.
• The document only records corrections to the original order.
• The facts, allegations, evidence, findings on professional misconduct, penalties, and detailed reasoning are not available in the uploaded Errata.
• Any comprehensive analysis of the case would require the original NFRA Order dated 21.04.2023.

Sections Involved

• Section 132(4) of the Companies Act, 2013
• Rule 11(6) of the National Financial Reporting Authority Rules, 2018

Link to download the order - https://cdnbbsr.s3waas.gov.in/s3e2ad76f2326fbc6b56a45a56c59fafdb/uploads/2023/04/2023042290.pdf

Disclaimer

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