| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
ABPS & ASSOCIATES
(M.No.:324706E)
|
|
|
|
MOHAMMAD AYUB
(M.No.:092165)
|
|
ACCEPTED AUDIT ENGAGEMENT WITHOUT VALID AUTHORIZATION AND WITHOUT COMPLYING WITH ETHICAL REQUIREMENTS AND ISSUED AUDIT REPORT WITHOUT VALID APPOINTMENT AS PER THE CHARTERED ACCOUNTS ACT, 1949 IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO AUDIT DOCUMENTATION VIOLATING STANDARDS OF AUDITING IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO PROFESSIONAL SKEPTICISM AND PROFESSIONAL JUDGEMENT IN UNDERSTANDING THE OBJECTIVE AND SCOPE OF AUDIT VIOLATING OF STATUTORY AUDITOR 200 IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO STANDARD OF ACCOUNTING FOR FORMING OPINION AND REPORTING ON FINANCIAL STATEMENTS VIOLATING STANDARDS OF AUDITING IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING CHARTERED ACCOUNTS ACT, 1949 IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
ISSUED AUDIT REPORT WITHOUT COMPLYING WITH REQUIREMENTS OF STANDARDS OF AUDITING IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 29-10-2023 TO 28-10-2024
29-SEP-2023
|
|
| 2 |
|
|
ABPS & ASSOCIATES
(M.No.:324706E)
|
|
|
|
P.RABI KUMAR PATRA
(M.No.:308396)
|
|
ACCEPTED AUDIT ENGAGEMENT WITHOUT VALID AUTHORIZATION AND WITHOUT COMPLYING WITH ETHICAL REQUIREMENTS AND ISSUED AUDIT REPORT WITHOUT VALID APPOINTMENT AS PER THE CHARTERED ACCOUNTS ACT, 1949 IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO AUDIT DOCUMENTATION VIOLATING STANDARDS OF AUDITING IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO PROFESSIONAL SKEPTICISM AND PROFESSIONAL JUDGEMENT IN UNDERSTANDING THE OBJECTIVE AND SCOPE OF AUDIT VIOLATING OF STATUTORY AUDITOR 200 IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO STANDARD OF ACCOUNTING FOR FORMING OPINION AND REPORTING ON FINANCIAL STATEMENTS VIOLATING STANDARDS OF AUDITING IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING CHARTERED ACCOUNTS ACT, 1949 IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
ISSUED AUDIT REPORT WITHOUT COMPLYING WITH REQUIREMENTS OF STANDARDS OF AUDITING IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 29-10-2023 TO 28-10-2024
29-SEP-2023
|
|
| 3 |
|
|
AGARWAL JAIN & GUPTA
(M.No.:013538C)
|
|
|
|
NARAYAN PRASAD SWAMI
(M.No.:409759)
|
|
DID NOT EVALUATE ARM’S LENGTH PRICING FOR TRANSACTIONS ENTERED WITH RELATED PARTIES
DID NOT IDENTIFY AND COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG) VIOLATING PARAS 11 AND 14 TO 16 AND STANDARDS ON AUDITING 260 AND 265
DID NOT PLAN AUDIT AND DID NOT UNDERSTAND ENTITY AND ITS ENVIRONMENT
DID NOT REPORT NON-PROVISIONING OF DOUBTFUL DEBTS
DID NOT DETERMINE MATERIALITY AND PERFORMANCE MATERIALITY VIOLATING PARA 10 OF STANDARDS ON AUDITING 320
DID NOT DOCUMENT SAMPLING METHODOLOGY ADOPTED FOR SUBSTANTIVE TESTING VIOLATING PARA 1 OF STANDARDS ON AUDITING 500
DID NOT OBTAIN ENGAGEMENT QUALITY REVIEW VIOLATING STANDARDS ON AUDITING 220
DID NOT OBTAIN EXTERNAL CONFIRMATION OF FOR TRADE RECEIVABLES AND TRADE PAYABLES
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING EXISTENCE AND CONDITION OF INVENTORY
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 28-05-2023 TO 27-05-2025
28-APR-2023
|
|
| 4 |
|
|
AKASH GOEL & CO.
(M.No.:017422C)
|
|
|
|
AKASH GOEL
(M.No.:419186)
|
|
ACCEPTED AUDIT ENGAGEMENT WITHOUT VALID AUTHORIZATION AND WITHOUT COMPLYING WITH ETHICAL REQUIREMENTS AND ISSUED AUDIT REPORT WITHOUT VALID APPOINTMENT AS PER THE CHARTERED ACCOUNTS ACT, 1949 IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO AUDIT DOCUMENTATION VIOLATING STANDARDS OF AUDITING IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO PROFESSIONAL SKEPTICISM AND PROFESSIONAL JUDGEMENT IN UNDERSTANDING THE OBJECTIVE AND SCOPE OF AUDIT VIOLATING OF STATUTORY AUDITOR 200 IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO STANDARD OF ACCOUNTING FOR FORMING OPINION AND REPORTING ON FINANCIAL STATEMENTS VIOLATING STANDARDS OF AUDITING IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING CHARTERED ACCOUNTS ACT, 1949 IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
ISSUED AUDIT REPORT WITHOUT COMPLYING WITH REQUIREMENTS OF STANDARDS OF AUDITING IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 01-05-2023 TO 30-04-2024
31-MAR-2023
|
|
| 5 |
|
|
ANIL CHAUHAN & ASSOCIATES
(M.No.:0140786W)
|
|
|
|
ANIL CHAUHAN
(M.No.:166286)
|
|
DID NOT MAINTAIN AUDIT FILE AND DID NOT CO-OPERATE WITH NFRA
DID NOT SUBMIT AUDIT FILES & RELATED DOCUMENTATION TO NFRA AND DID NOT RESPOND TO SCN ISSUED BY NFRA
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 05-02-2024 TO 04-02-2034
05-JAN-2024
|
|
| 6 |
|
|
ANIL CHAUHAN & ASSOCIATES
(M.No.:0140786W)
|
|
|
DID NOT MAINTAIN AUDIT FILE AND DID NOT CO-OPERATE WITH NFRA
DID NOT SUBMIT AUDIT FILES & RELATED DOCUMENTATION TO NFRA AND DID NOT RESPOND TO SCN ISSUED BY NFRA
|
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 05-02-2024 TO 04-02-2034
05-JAN-2024
|
|
| 7 |
|
|
ASHOK HOLANI & CO.
(M.No.:009840C)
|
|
|
ARTIFICIALLY DECREASED LIABILITIES AND INFLATED INCOME
DID NOT APPOINT ENGAGEMENT OF QUALITY CONTROL REVIEWER (EQCR)
DID NOT EVALUATE ACCOUNTING POLICIES & VALUATION OF INVENTORIES AND NOT PERFORMED PHYSICAL VERIFICATION OF INVENTORY
DID NOT IDENTIFY RELATED PARTY AND/OR RELATED PARTY TRANSACTIONS
ISSUED AUDIT REPORT WITHOUT ENGAGEMENT QUALITY CONTROL REVIEW (EQCR)
REPORTED MATTERS THROUGH KEY AUDIT MATTERS (KAM) WITHOUT OBTAINING SUFFICIENT APPROPRIATE AUDIT EVIDENCE WITHOUT OBTAINING PRIOR COMMUNICATION WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE FOR REPORTING UNDER COMPANIES (AUDITOR’S REPORT) ORDER, 2016 REGARDING UTILIZATION OF IPO PROCEEDS
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE INCLUDE WHEN MANAGEMENT PREVENTS AUDITOR FROM REQUESTING EXTERNAL CONFIRMATION OF SPECIFIC ACCOUNT BALANCES
|
IMPOSED PENALTY RS.10,00,000
04-OCT-2023
|
|
| 8 |
|
|
ASHOK HOLANI & CO.
(M.No.:009840C)
|
|
|
|
RAHUL JANGIR
(M.No.:435804)
|
|
ARTIFICIALLY DECREASED LIABILITIES AND INFLATED INCOME
DID NOT APPOINT ENGAGEMENT OF QUALITY CONTROL REVIEWER (EQCR)
DID NOT EVALUATE ACCOUNTING POLICIES & VALUATION OF INVENTORIES AND NOT PERFORMED PHYSICAL VERIFICATION OF INVENTORY
DID NOT IDENTIFY RELATED PARTY AND/OR RELATED PARTY TRANSACTIONS
ISSUED AUDIT REPORT WITHOUT ENGAGEMENT QUALITY CONTROL REVIEW (EQCR)
REPORTED MATTERS THROUGH KEY AUDIT MATTERS (KAM) WITHOUT OBTAINING SUFFICIENT APPROPRIATE AUDIT EVIDENCE WITHOUT OBTAINING PRIOR COMMUNICATION WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE FOR REPORTING UNDER COMPANIES (AUDITOR’S REPORT) ORDER, 2016 REGARDING UTILIZATION OF IPO PROCEEDS
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE INCLUDE WHEN MANAGEMENT PREVENTS AUDITOR FROM REQUESTING EXTERNAL CONFIRMATION OF SPECIFIC ACCOUNT BALANCES
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 04-11-2023 TO 03-11-2026
04-OCT-2023
|
|
| 9 |
|
|
ASRMP & CO.
(M.No.:018350S)
|
|
|
DID NOT DRAW ATTENTION TO PRESENCE OF MATERIAL MISSTATEMENTS OF RS.7514.10 CRORE IN FINANCIAL STATEMENTS OF COFFEE DAY GLOBAL LTD.
DID NOT EXERCISE DUE DILIGENCE IN AUDIT OF UNUSUALLY HIGH AMOUNT OF RS.87.92 CRORE CAPITAL ADVANCE GIVEN BY COFFEE DAY GLOBAL LTD. TO DARK FOREST FURNITURE CO.PVT.LTD.
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE IN RESPECT OF LOAN RS.130.55 CRORE TO CLASSIC COFFEE CURING WORKS
DID NOT EXERCISE PROFESSIONAL SKEPTICISM WHILE PERFORMING AUDIT OF FRAUDULENT TRANSACTIONS OF RS.3,769.61 CRORE WITH MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT GET APPROVAL OF FINANCIAL STATEMENTS BY BOARD AND ITS SIGNING BY PERSONS AUTHORIZED BY BOARD BEFORE AUDITOR REPORT
DID NOT PERFORM RISK ASSESSMENT PROCEDURE TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENT IN FINANCIAL STATEMENTS
DID NOT PERFORM RISK ASSESSMENT PROCEDURE TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENTS IN FINANCIAL STATEMENTS DUE TO FRAUD IN RELATION TO FRAUDULENT UNDERSTATEMENT OF SUPPLIER ADVANCE TO MYSORE AMALGAMATED COFFEE ESTATE LTD. FOR RS.222.50 CRORE
DID NOT PLAN AUDIT OF FINANCIAL STATEMENTS VIOLATING STANDARDS OF AUDITING
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE
DID NOT REPORT LOANS OF RS.3,840.51 CRORE TO PROMOTER OWNED ENTITY VIZ MYSORE AMALGAMATED COFFEE ESTATE LTD. IN INDEPENDENT AUDITOR’S REPORT
TEMPERED AUDIT FILE WITHOUT VALID REASON AND MAKING AUDIT FILE UNRELIABLE IN THE MATTER OF COFFEE DAY GLOBAL LTD.
DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING
|
IMPOSED PENALTY RS.1,00,00,000
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 13-05-2023 TO 12-05-2025
12-APR-2023
|
|
| 10 |
|
|
ASRMP & CO.
(M.No.:018350S)
|
|
|
|
A.S.SUNDARESHA
(M.No.:019728)
|
|
DID NOT DRAW ATTENTION TO PRESENCE OF MATERIAL MISSTATEMENTS OF RS.7514.10 CRORE IN FINANCIAL STATEMENTS OF COFFEE DAY GLOBAL LTD.
DID NOT EXERCISE DUE DILIGENCE IN AUDIT OF UNUSUALLY HIGH AMOUNT OF RS.87.92 CRORE CAPITAL ADVANCE GIVEN BY COFFEE DAY GLOBAL LTD. TO DARK FOREST FURNITURE CO.PVT.LTD.
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE IN RESPECT OF LOAN RS.130.55 CRORE TO CLASSIC COFFEE CURING WORKS
DID NOT EXERCISE PROFESSIONAL SKEPTICISM WHILE PERFORMING AUDIT OF FRAUDULENT TRANSACTIONS OF RS.3,769.61 CRORE WITH MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT GET APPROVAL OF FINANCIAL STATEMENTS BY BOARD AND ITS SIGNING BY PERSONS AUTHORIZED BY BOARD BEFORE AUDITOR REPORT
DID NOT PERFORM RISK ASSESSMENT PROCEDURE TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENT IN FINANCIAL STATEMENTS
DID NOT PERFORM RISK ASSESSMENT PROCEDURE TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENTS IN FINANCIAL STATEMENTS DUE TO FRAUD IN RELATION TO FRAUDULENT UNDERSTATEMENT OF SUPPLIER ADVANCE TO MYSORE AMALGAMATED COFFEE ESTATE LTD. FOR RS.222.50 CRORE
DID NOT PLAN AUDIT OF FINANCIAL STATEMENTS VIOLATING STANDARDS OF AUDITING
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE
DID NOT REPORT LOANS OF RS.3,840.51 CRORE TO PROMOTER OWNED ENTITY VIZ MYSORE AMALGAMATED COFFEE ESTATE LTD. IN INDEPENDENT AUDITOR’S REPORT
TEMPERED AUDIT FILE WITHOUT VALID REASON AND MAKING AUDIT FILE UNRELIABLE IN THE MATTER OF COFFEE DAY GLOBAL LTD.
DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 13-05-2023 TO 12-05-2028
12-APR-2023
|
|
| 11 |
|
|
ASRMP & CO.
(M.No.:018350S)
|
|
|
|
MADHUSUDAN U.A.
(M.No.:238953)
|
|
DID NOT DRAW ATTENTION TO PRESENCE OF MATERIAL MISSTATEMENTS OF RS.7514.10 CRORE IN FINANCIAL STATEMENTS OF COFFEE DAY GLOBAL LTD.
DID NOT EXERCISE DUE DILIGENCE IN AUDIT OF UNUSUALLY HIGH AMOUNT OF RS.87.92 CRORE CAPITAL ADVANCE GIVEN BY COFFEE DAY GLOBAL LTD. TO DARK FOREST FURNITURE CO.PVT.LTD.
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE IN RESPECT OF LOAN RS.130.55 CRORE TO CLASSIC COFFEE CURING WORKS
DID NOT EXERCISE PROFESSIONAL SKEPTICISM WHILE PERFORMING AUDIT OF FRAUDULENT TRANSACTIONS OF RS.3,769.61 CRORE WITH MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT GET APPROVAL OF FINANCIAL STATEMENTS BY BOARD AND ITS SIGNING BY PERSONS AUTHORIZED BY BOARD BEFORE AUDITOR REPORT
DID NOT PERFORM RISK ASSESSMENT PROCEDURE TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENT IN FINANCIAL STATEMENTS
DID NOT PERFORM RISK ASSESSMENT PROCEDURE TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENTS IN FINANCIAL STATEMENTS DUE TO FRAUD IN RELATION TO FRAUDULENT UNDERSTATEMENT OF SUPPLIER ADVANCE TO MYSORE AMALGAMATED COFFEE ESTATE LTD. FOR RS.222.50 CRORE
DID NOT PLAN AUDIT OF FINANCIAL STATEMENTS VIOLATING STANDARDS OF AUDITING
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE
DID NOT REPORT LOANS OF RS.3,840.51 CRORE TO PROMOTER OWNED ENTITY VIZ MYSORE AMALGAMATED COFFEE ESTATE LTD. IN INDEPENDENT AUDITOR’S REPORT
TEMPERED AUDIT FILE WITHOUT VALID REASON AND MAKING AUDIT FILE UNRELIABLE IN THE MATTER OF COFFEE DAY GLOBAL LTD.
DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 13-05-2023 TO 12-05-2028
12-APR-2023
|
|
| 12 |
|
|
ASRMP & CO.
(M.No.:018350S)
|
|
|
|
PRANAAV G.AMBEKAR
(M.No.:240379)
|
|
DID NOT DRAW ATTENTION TO PRESENCE OF MATERIAL MISSTATEMENTS OF RS.7514.10 CRORE IN FINANCIAL STATEMENTS OF COFFEE DAY GLOBAL LTD.
DID NOT EXERCISE DUE DILIGENCE IN AUDIT OF UNUSUALLY HIGH AMOUNT OF RS.87.92 CRORE CAPITAL ADVANCE GIVEN BY COFFEE DAY GLOBAL LTD. TO DARK FOREST FURNITURE CO.PVT.LTD.
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE IN RESPECT OF LOAN RS.130.55 CRORE TO CLASSIC COFFEE CURING WORKS
DID NOT EXERCISE PROFESSIONAL SKEPTICISM WHILE PERFORMING AUDIT OF FRAUDULENT TRANSACTIONS OF RS.3,769.61 CRORE WITH MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT GET APPROVAL OF FINANCIAL STATEMENTS BY BOARD AND ITS SIGNING BY PERSONS AUTHORIZED BY BOARD BEFORE AUDITOR REPORT
DID NOT PERFORM RISK ASSESSMENT PROCEDURE TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENT IN FINANCIAL STATEMENTS
DID NOT PERFORM RISK ASSESSMENT PROCEDURE TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENTS IN FINANCIAL STATEMENTS DUE TO FRAUD IN RELATION TO FRAUDULENT UNDERSTATEMENT OF SUPPLIER ADVANCE TO MYSORE AMALGAMATED COFFEE ESTATE LTD. FOR RS.222.50 CRORE
DID NOT PLAN AUDIT OF FINANCIAL STATEMENTS VIOLATING STANDARDS OF AUDITING
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE
DID NOT REPORT LOANS OF RS.3,840.51 CRORE TO PROMOTER OWNED ENTITY VIZ MYSORE AMALGAMATED COFFEE ESTATE LTD. IN INDEPENDENT AUDITOR’S REPORT
TEMPERED AUDIT FILE WITHOUT VALID REASON AND MAKING AUDIT FILE UNRELIABLE IN THE MATTER OF COFFEE DAY GLOBAL LTD.
DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 13-05-2023 TO 12-05-2028
12-APR-2023
|
|
| 13 |
|
|
ASRMP & CO.
(M.No.:018350S)
|
|
|
|
A.S.SUNDARESHA
(M.No.:019728)
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT DOCUMENTATION
DID NOT EXERCISE PROFESSIONAL JUDGEMENT AND SKEPTICISM DURING AUDIT OF TRANSACTIONS RELATING TO SALE OF FRESH AND GROUND BUSINESS INVOLVING DIVERSION OF FUNDS
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE IN RESPECT OF LOAN RS.130.55 CRORE TO CLASSIC COFFEE CURING WORKS
DID NOT PERFORM RISK ASSESSMENT PROCEDURES TO IDENTIFY, ASSESS AND RESPOND TO THE RISK OF MATERIAL MISSTATEMENTS DUE TO FRAUD IN THE AUDIT OF PROVISIONS MADE FOR SUPPLIER ADVANCES, DOUBTFUL DEBTS AND DOUBTFUL ADVANCE
DID NOT REPORT FRAUDULENT DIVERSION OF FUNDS TO CENTRAL GOVERNMENT
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE
DID NOT DETECT EVERGREENING OF LOANS THROUGH STRUCTURED CIRCULAR TRANSACTIONS OF FUNDS
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 13-05-2023 TO 12-05-2033
28-JUL-2023
|
|
| 14 |
|
|
ASRMP & CO.
(M.No.:018350S)
|
|
|
|
MADHUSUDAN U.A.
(M.No.:238953)
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT DOCUMENTATION
DID NOT EXERCISE PROFESSIONAL JUDGEMENT AND SKEPTICISM DURING AUDIT OF TRANSACTIONS RELATING TO SALE OF FRESH AND GROUND BUSINESS INVOLVING DIVERSION OF FUNDS
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE IN RESPECT OF LOAN RS.130.55 CRORE TO CLASSIC COFFEE CURING WORKS
DID NOT PERFORM RISK ASSESSMENT PROCEDURES TO IDENTIFY, ASSESS AND RESPOND TO THE RISK OF MATERIAL MISSTATEMENTS DUE TO FRAUD IN THE AUDIT OF PROVISIONS MADE FOR SUPPLIER ADVANCES, DOUBTFUL DEBTS AND DOUBTFUL ADVANCE
DID NOT REPORT FRAUDULENT DIVERSION OF FUNDS TO CENTRAL GOVERNMENT
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE
DID NOT DETECT EVERGREENING OF LOANS THROUGH STRUCTURED CIRCULAR TRANSACTIONS OF FUNDS
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 28-08-2023 TO 27-08-2028
28-JUL-2023
|
|
| 15 |
|
|
ATUL DHIRAJ & CO.
(M.No.:133405W)
|
|
|
|
DHIRAJ PARASMAL JAIN
(M.No.:144738)
|
|
ACCEPTED AUDIT ENGAGEMENT WITHOUT VALID AUTHORIZATION AND WITHOUT COMPLYING WITH ETHICAL REQUIREMENTS AND ISSUED AUDIT REPORT WITHOUT VALID APPOINTMENT AS PER THE CHARTERED ACCOUNTS ACT, 1949 IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO AUDIT DOCUMENTATION VIOLATING STANDARDS OF AUDITING IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO PROFESSIONAL SKEPTICISM AND PROFESSIONAL JUDGEMENT IN UNDERSTANDING THE OBJECTIVE AND SCOPE OF AUDIT VIOLATING OF STATUTORY AUDITOR 200 IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO STANDARD OF ACCOUNTING FOR FORMING OPINION AND REPORTING ON FINANCIAL STATEMENTS VIOLATING STANDARDS OF AUDITING IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING CHARTERED ACCOUNTS ACT, 1949 IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
ISSUED AUDIT REPORT WITHOUT COMPLYING WITH REQUIREMENTS OF STANDARDS OF AUDITING IN MATTER OF DEWAN HOUSING FINANCE CORP.LTD.
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 29-10-2023 TO 28-04-2024
29-SEP-2023
|
|
| 16 |
|
|
BSR & ASSOCIATES LLP
(M.No.:116231W)
|
|
|
CREATED AND MODIFIED AUDIT WORK PAPERS AFTER SIGNING AUDIT REPORT AND BETWEEN SIGNING OFF OF AUDIT WORK PAPERS AND AUDIT REPORT
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES IN RESPECT OF CAPITAL ADVANCE OF RS.130.55 CRORE GIVEN BY COFFEE DAY GLOBAL LTD. TO CLASSIC COFFEE CURING WORKS
DID NOT PERFORM RISK ASSESSMENT PROCEDURES IN RESPECT OF INTEREST INCOME OF RS.75 CRORE FROM MYSORE AMALGAMATED COFFEE ESTATE LTD. WITHOUT ANY UNDERLYING AGREEMENT
DID NOT IDENTIFY, ASSESS AND RESPOND TO FRAUD RISK AND RISK OF MATERIAL MISSTATEMENTS IN FINANCIAL STATEMENTS ARISING DUE TO DIVERSION OF FUNDS TO TUNE OF RS.2,549 CRORE TO MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO IDENTIFY AND EVALUATE LARGE SCALE EVERGREENING OF LOANS AND UNDERSTATEMENTS OF DIVERSION OF FUNDS TO MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT REPORT COFFEE DAY ENTERPRISES LTD. IN RESPECT OF LOANS GIVEN BY CDEL TO ITS SUBSIDIARIES VIOLATING COMPANIES (AUDITOR’S REPORT) ORDER, 2016 READ WITH SECTION 185 OF THE ACT.
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IMPOSED PENALTY RS.10,00,00,000
19-AUG-2024
|
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| 17 |
|
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BSR & ASSOCIATES LLP
(M.No.:116231W)
|
|
|
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ARAVIND MAIYA
(M.No.:217433)
|
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CREATED AND MODIFIED AUDIT WORK PAPERS AFTER SIGNING AUDIT REPORT AND BETWEEN SIGNING OFF OF AUDIT WORK PAPERS AND AUDIT REPORT
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES IN RESPECT OF CAPITAL ADVANCE OF RS.130.55 CRORE GIVEN BY COFFEE DAY GLOBAL LTD. TO CLASSIC COFFEE CURING WORKS
DID NOT PERFORM RISK ASSESSMENT PROCEDURES IN RESPECT OF INTEREST INCOME OF RS.75 CRORE FROM MYSORE AMALGAMATED COFFEE ESTATE LTD. WITHOUT ANY UNDERLYING AGREEMENT
DID NOT IDENTIFY, ASSESS AND RESPOND TO FRAUD RISK AND RISK OF MATERIAL MISSTATEMENTS IN FINANCIAL STATEMENTS ARISING DUE TO DIVERSION OF FUNDS TO TUNE OF RS.2,549 CRORE TO MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO IDENTIFY AND EVALUATE LARGE SCALE EVERGREENING OF LOANS AND UNDERSTATEMENTS OF DIVERSION OF FUNDS TO MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT REPORT COFFEE DAY ENTERPRISES LTD. IN RESPECT OF LOANS GIVEN BY CDEL TO ITS SUBSIDIARIES VIOLATING COMPANIES (AUDITOR’S REPORT) ORDER, 2016 READ WITH SECTION 185 OF THE ACT.
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 19-09-2024 TO 18-09-2034
19-AUG-2024
|
|
| 18 |
|
|
BSR & ASSOCIATES LLP
(M.No.:116231W)
|
|
|
|
AMIT SOMANI
(M.No.:060154)
|
|
CREATED AND MODIFIED AUDIT WORK PAPERS AFTER SIGNING AUDIT REPORT AND BETWEEN SIGNING OFF OF AUDIT WORK PAPERS AND AUDIT REPORT
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES IN RESPECT OF CAPITAL ADVANCE OF RS.130.55 CRORE GIVEN BY COFFEE DAY GLOBAL LTD. TO CLASSIC COFFEE CURING WORKS
DID NOT PERFORM RISK ASSESSMENT PROCEDURES IN RESPECT OF INTEREST INCOME OF RS.75 CRORE FROM MYSORE AMALGAMATED COFFEE ESTATE LTD. WITHOUT ANY UNDERLYING AGREEMENT
DID NOT IDENTIFY, ASSESS AND RESPOND TO FRAUD RISK AND RISK OF MATERIAL MISSTATEMENTS IN FINANCIAL STATEMENTS ARISING DUE TO DIVERSION OF FUNDS TO TUNE OF RS.2,549 CRORE TO MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO IDENTIFY AND EVALUATE LARGE SCALE EVERGREENING OF LOANS AND UNDERSTATEMENTS OF DIVERSION OF FUNDS TO MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT REPORT COFFEE DAY ENTERPRISES LTD. IN RESPECT OF LOANS GIVEN BY CDEL TO ITS SUBSIDIARIES VIOLATING COMPANIES (AUDITOR’S REPORT) ORDER, 2016 READ WITH SECTION 185 OF THE ACT.
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 19-09-2024 TO 18-09-2029
19-AUG-2024
|
|
| 19 |
|
|
CHATURVEDI & SHAH LLP
|
|
|
|
JIGNESH MEHTA
(M.No.:102749)
|
|
DID NOT ADHERE TO PROFESSIONAL SKEPTICISM IN CONSIDERATION OF LAWS AND REGULATIONS IN AUDIT OF FINANCIAL STATEMENTS
DID NOT APPROPRIATELY IDENTIFY, CLASSIFY AND ASSESS RISK OF MATERIAL MISSTATEMENTS
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND DID NOT REPORT MATERIAL MISSTATEMENTS
DID NOT IDENTIFY DEFICIENCIES IN INTERNAL CONTROL RELATING TO APPRAISAL AND SANCTION OF LOAN
DID NOT IDENTIFY RELATED PARTY AND/OR RELATED PARTY TRANSACTIONS
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING ENTITY’S ABILITY TO CONTINUE AS GOING CONCERN
DID NOT OBTAIN SUFFICIENT INFORMATION NECESSARY FOR EXPRESSION OF OPINION ON INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING (ICFR) AND ISSUED BASELESS AUDIT REPORT
DID NOT PERFORM AUDIT PROCEDURES REQUIRED FOR COMPANY’S BRANCHES
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 05-01-2024 TO 04-01-2034
05-DEC-2023
|
|
| 20 |
|
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CHATURVEDI & SHAH LLP
|
|
|
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AMIT VINAY CHATURVEDI
(M.No.:103141)
|
|
DID NOT EXERCISE DUE DILIGENCE AND BEING GROSSLY NEGLIGENT IN CONDUCT OF PROFESSIONAL DUTIES
DID NOT INVITE ATTENTION TO ANY MATERIAL DEPARTURE FROM GENERALLY ACCEPTED PROCEDURE OF AUDIT APPLICABLE TO CIRCUMSTANCES
DID NOT OBTAIN SUFFICIENT INFORMATION NECESSARY FOR EXPRESSION OF OPINION OR ITS EXCEPTIONS SUFFICIENTLY MATERIAL TO NEGATE EXPRESSION OF OPINION
|
IMPOSED PENALTY
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 05-01-2024 TO 04-01-2029
05-DEC-2023
|
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| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
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| Page 1 of 5
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