SOURCE OF INFORMATION : NATIONAL FINANCIAL REPORTING AUTHORITY
PERIOD COVERED : 22-JUL-2020 TO 29-APR-2025

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

COMPANIES: 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

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

D N CHATURVEDI & CO.

(M.No.:000183C)

D.N.CHATURVEDI

(M.No.:012840)

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

DELOITTE HASKINS & SELLS LLP

(M.No.:117366W)

DID NOT EXAMINE AND REPORT MATTER OF PREMATURELY CLOSURE OF FIXED DEPOSIT AS SECURITY FOR LOANS AND REPAY LOANS OF RELATED PARTIES OF PROMOTER THE GROUP ENTITIES WITHOUT APPROVAL OF AUDIT COMMITTEE, BOARD AND SHAREHOLDERS

IMPOSED PENALTY RS.2,00,00,000

23-DEC-2024

DELOITTE HASKINS & SELLS LLP

(M.No.:117366W)

A.B.JANI

(M.No.:46488)

DID NOT EXERCISE DUE DILIGENCE AND PROFESSIONAL SKEPTICISM IN CONDUCT OF DUTIES REGARDING THE FD MATTER

DID NOT PLAN AND PERFORM AUDIT WITH PROFESSIONAL SKEPTICISM

DID NOT PROVIDE REASONABLE ASSURANCE BASED ON AUDIT EVIDENCE AND IN COMPLIANCE WITH APPLICABLE SAS

NONE OF THE INCONSISTENT EVIDENCE NOTED IN THE ORDER ADDRESSED BY THE AUDITORS

DID NOT MAINTAIN PROFESSIONAL SKEPTICISM THROUGHOUT AUDIT TO DETECT IF MANAGEMENT HAS OVERRIDDEN CONTROLS TO CONDUCT FRAUD

DID NOT MAKE ENQUIRIES OF MANAGEMENT AND OTHERS WITHIN ENTITY (PROMOTERS AND DIRECTORS) AS APPROPRIATE, TO DETERMINE WHETHER THEY HAVE KNOWLEDGE OF ANY ACTUAL, SUSPECTED OR ALLEGED FRAUD AFFECTING THE ENTITY

DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE ABOUT ASSESSED RISKS OF MATERIAL MISSTATEMENT THROUGH DESIGNING AND IMPLEMENTING APPROPRIATE RESPONSES TO THOSE RISKS

DID NOT PERFORM EXTERNAL CONFIRMATION PROCEDURES REGARDING THE REASON FOR CLOSURE OF FIXED DEPOSITS

DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)

DID NOT DESIGN AND PERFORM AUDIT PROCEDURES TO OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE AND TO DEAL WITH INCONSISTENT EVIDENCE FROM DIFFERENT SOURCES

DELOITTE HASKINS & SELLS LLP

(M.No.:117366W)

RAKESH SHARMA

(M.No.:102042)

DHIRAJ & DHEERAJ

(M.No.:102454W)

ACCEPTED AUDIT ENGAGEMENT BEFORE COMMUNICATION WITH PRICE WATERHOUSE & CO.CHARTERED ACCOUNTS LLP AND WITHOUT WAITING FOR A REASONABLE TIME TO RESPOND TO THE COMMUNICATION

DID NOT PERFORM ROLE OF ENGAGEMENT QUALITY CONTROL REVIEW (EQCR) OBJECTIVELY

DID NOT NOTICE DEFICIENCIES IN THE INTERNAL CONTROLS OVER EXPECTED CREDIT LOSS (ECL) ON THE LOANS ETC.FINANCIAL ASSETS

DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING ENTITY�S ABILITY TO CONTINUE AS GOING CONCERN

DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE TO SUPPORT THE MATTERS REPORTED BY PRICE WATERHOUSE & CO. CHARTERED ACCOUNTS LLP TO THE GOVERNMENT

DID NOT CARRY OUT ADEQUATE AUDIT PROCEDURES

IMPOSED PENALTY RS.1,00,00,000

26-APR-2024

DHIRAJ & DHEERAJ

(M.No.:102454W)

PIYUSH PATNI

(M.No.:143869)

DHIRAJ & DHEERAJ

(M.No.:102454W)

PAWAN KUMAR GUPTA

(M.No.:051713)

G.BASU & CO.

(M.No.:301174E)

GAUTAM GUHA

DID NOT REPORT BREAKUP OF TRADE RECEIVABLES OF RS.2.95 CRORE INTO OUTSTANDING AMOUNT OF MORE THAN SIX MONTHS AND LESS THAN SIX MONTHS IN MATTER OF NICCOUCO ALLIANCE CREDIT LTD.

DID NOT REPORT THAT DEPRECIATION SCHEDULE DID NOT MENTION ADJUSTMENT/ADDITIONS/DEDUCTIONS IN GROSS BLOCK AND DEPRECIATION FOR PREVIOUS YEAR 2014-15 IN MATTER OF NICCOUCO ALLIANCE CREDIT LTD.

MADE INCORRECT REPORTING OF OUTSTANDING LIABILITY ARISING OUT OF FOREIGN CURRENCY LOAN IN MATTER OF NICCOUCO ALLIANCE CREDIT LTD.

DID NOT DETERMINE MATERIALITY AND PERFORMANCE MATERIALITY IN STATUTORY AUDIT VIOLATING STANDARDS ON AUDITING 320 IN MATTER OF NICCOUCO ALLIANCE CREDIT LTD.

DID NOT REPORT IMPROPER ACCOUNTING OF ASSETS GIVEN ON FINANCE LEASE IN MATTER OF NICCOUCO ALLIANCE CREDIT LTD.

DID NOT REPORT MISMATCH IN INVESTMENT SCHEDULE IN FINANCIAL STATEMENTS IN MATTER OF NICCOUCO ALLIANCE CREDIT LTD.

IMPOSED PENALTY

12-JUN-2023

GSV & CO.

(M.No.:123334W)

HEMANT KHATOR

(M.No.:117596)

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 IDENTIFY RELATED PARTY AND/OR RELATED PARTY TRANSACTIONS

DID NOT PLAN AUDIT AND DID NOT UNDERSTAND ENTITY AND ITS ENVIRONMENT

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

DID NOT REPORT NON-COMPLIANCE WITH LAWS AND REGULATIONS

HARIBHAKTI & CO.LLP

CHETAN DESAI

DID NOT DIRECT AND SUPERVISE AUDIT ENGAGEMENT

DID NOT EVALUATE IMPACT ON AUDIT REPORTS ON BOTH CONSOLIDATED FINANCIAL STATEMENTS AS WELL AS STANDALONE FINANCIAL STATEMENTS

DID NOT OBTAIN ENGAGEMENT QUALITY REVIEW VIOLATING STANDARDS ON AUDITING 220

DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES AND DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE DURING AUDIT OF LOANS AND ADVANCES OF RS.1,326.92 CRORE GIVEN TO RELATED PARTIES AND OTHERS

DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES AND DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE DURING AUDIT OF INVESTMENT OF RS.2,456.92 MADE BY DB REALTY LTD. IN ITS SUBSIDIARIES, ASSOCIATES, JOINT VENTURES AND OTHERS

DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES AND DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE DURING AUDIT OF RS.3,894.43 CRORE OF GUARANTEES GIVEN AND SECURITIES PROVIDED BY DB REALTY LTD. TO RELATED PARTIES

HARIBHAKTI & CO.LLP

RAKESH RATHI

J.SINGH & ASSOCIATES

(M.No.:110266W)

P.POOVALINGAM

(M.No.:024295)

JUMANI & CO.

(M.No.:135870W)

SUNIL R.JUMANI

(M.No.:049586)

K.B.CHATURVEDI & ASSOCIATES

(M.No.:016107c)

KRISHNA BIHARI CHATURVEDI

(M.No.:413754)

DID NOT EXERCISE DUE DILIGENCE AND BEING GROSSLY NEGLIGENT IN CONDUCT OF PROFESSIONAL DUTIES

DID NOT OBTAIN SUFFICIENT INFORMATION NECESSARY FOR EXPRESSION OF OPINION OR ITS EXCEPTIONS SUFFICIENTLY MATERIAL TO NEGATE EXPRESSION OF OPINION

K.B.CHATURVEDI & ASSOCIATES

(M.No.:016107c)

KASHINATH CHATURVEDI

(M.No.:030932)

K.PANDEYA & CO.

(M.No.:000135C)

DID NOT ADHERE TO PROCEDURES RELATING TO ACCEPTANCE OF AUDIT

DID NOT APPOINT ENGAGEMENT OF QUALITY CONTROL REVIEWER (EQCR)

DID NOT EVALUATE APPROPRIATENESS OF GOING CONCERN ASSUMPTION IN PREPARATION OF FINANCIAL STATEMENTS

DID NOT EVALUATE IMPAIRMENT OF PROPERTY, PLANT AND EQUIPMENT

DID NOT REPORT EFFECT OF INCOME TAX ORDER IN FINANCIAL STATEMENTS OF COMPANY

DID NOT REPORT NON-RECOGNITION OF INTEREST COST ON BORROWINGS CLASSIFIED AS NON PERFORMING ASSETS (NPAS)

DID NOT UNDERSTAND NATURE OF BUSINESS OF THE ENTITY BY GAINING UNDERSTANDING OF NATURE OF THE ENTITY, ITS OPERATIONS, OWNERSHIP, GOVERNANCE AND CAPITAL STRUCTURE AND APPLICABLE FINANCIAL REPORTING FRAMEWORK ETC.

DID NOT ENSURE REQUIRE AGREEMENT WITH MANAGEMENT TO UNDERTAKE AUDIT

DID NOT ASSESS RISK OF MATERIAL MISSTATEMENT IN BALANCES OF TRADE RECEIVABLES

IMPOSED PENALTY RS.25,00,000

21-AUG-2023

K.PANDEYA & CO.

(M.No.:000135C)

MANJEET KUMAR VERMA

(M.No.:075926)