| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 41 |
|
K.VARGHESE & CO.
(M.No.:004525S)
|
|
|
|
M.BASKARAN
(M.No.:216637)
|
|
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 13-05-2023 TO 12-05-2024
13-APR-2023
|
|
| 42 |
|
|
K.VARGHESE & CO.
(M.No.:004525S)
|
|
|
|
AYNA TAMTON
(M.No.:220163)
|
|
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
|
|
| 43 |
|
|
KARNATH & KARNATH ASSOCIATES
(M.No.:001685S)
|
|
|
|
M.VAMAN KARNATH
(M.No.:023992)
|
|
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
|
|
| 44 |
|
|
KHANDELWAL KAKANI & CO.
(M.No.:001311C)
|
|
|
|
SANTOSH DESHMUKH
(M.No.:071011)
|
|
DID NOT EXERCISE DUE CARE AND PROFESSIONAL SKEPTICISM AND DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE TO SUPPORT ISSUER’S NET ACCOUNTS RECEIVABLES AND DOUBTFUL ACCOUNTS
DID NOT EXERCISE DUE DILIGENCE AND BEING GROSSLY NEGLIGENT IN CONDUCT OF PROFESSIONAL DUTIES
DID NOT PREPARE AUDIT DOCUMENTS AS PER STANDARDS ON AUDITING 230
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING SECTION 143(9) OF COMPANIES ACT, 2013
DID NOT OBTAIN REASONABLE ASSURANCE ABOUT WHETHER FINANCIAL STATEMENTS AS A WHOLE WERE FREE FROM MATERIAL MISSTATEMENT
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE FOR VERIFICATION OF REVENUE
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING EXISTENCE AND CONDITION OF INVENTORY
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE WITH RESPECT TO ISSUER’S INVESTMENTS
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
|
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 09-10-2024 TO 08-10-2025
09-SEP-2024
|
|
| 45 |
|
|
KRISHNA NEERAJ & ASSOCIATES
(M.No.:023233N)
|
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT DOCUMENTATION
DID NOT EVALUATE MANAGEMENT’S ASSESSMENT OF ENTITY’S ABILITY TO CONTINUE AS GOING CONCERN
DID NOT FORM OPINION ON FINANCIAL STATEMENT WITHOUT OBTAINING SUFFICIENT APPROPRIATE AUDIT EVIDENCE
DID NOT IDENTIFY AND ASSESS RISK OF MATERIAL MISSTATEMENT DUE TO FRAUD RELATED TO REVENUE RECOGNITION
DID NOT PERFORM ROLE OF ENGAGEMENT QUALITY CONTROL REVIEW (EQCR) OBJECTIVELY
DID NOT RELATED TO NON-RECOGNITION OF LIABILITIES CLASSIFIED AS NON-PERFORMING ASSETS (NPAS) BY LENDER BANKS
DID NOT DETERMINE MATERIALITY AND PERFORMANCE MATERIALITY VIOLATING PARA 10 OF STANDARDS ON AUDITING 320
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING SECTION 143(9) OF COMPANIES ACT, 2013
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING EXISTENCE AND CONDITION OF INVENTORY
DID NOT AUDIT TRADE RECEIVABLES IN ACCORDANCE WITH REQUIREMENT OF STANDARDS ON AUDITING
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
|
IMPOSED PENALTY RS.50,00,000
26-APR-2024
|
|
| 46 |
|
|
KRISHNA NEERAJ & ASSOCIATES
(M.No.:023233N)
|
|
|
|
KRISHNA KUMAR NEERAJ
(M.No.:506669)
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT DOCUMENTATION
DID NOT EVALUATE MANAGEMENT’S ASSESSMENT OF ENTITY’S ABILITY TO CONTINUE AS GOING CONCERN
DID NOT FORM OPINION ON FINANCIAL STATEMENT WITHOUT OBTAINING SUFFICIENT APPROPRIATE AUDIT EVIDENCE
DID NOT IDENTIFY AND ASSESS RISK OF MATERIAL MISSTATEMENT DUE TO FRAUD RELATED TO REVENUE RECOGNITION
DID NOT PERFORM ROLE OF ENGAGEMENT QUALITY CONTROL REVIEW (EQCR) OBJECTIVELY
DID NOT RELATED TO NON-RECOGNITION OF LIABILITIES CLASSIFIED AS NON-PERFORMING ASSETS (NPAS) BY LENDER BANKS
DID NOT DETERMINE MATERIALITY AND PERFORMANCE MATERIALITY VIOLATING PARA 10 OF STANDARDS ON AUDITING 320
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING SECTION 143(9) OF COMPANIES ACT, 2013
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING EXISTENCE AND CONDITION OF INVENTORY
DID NOT AUDIT TRADE RECEIVABLES IN ACCORDANCE WITH REQUIREMENT OF STANDARDS ON AUDITING
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
|
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 26-05-2024 TO 25-05-2026
26-APR-2024
|
|
| 47 |
|
|
KUMAR JAIN & ASSOCIATES
(M.No.:016717S)
|
|
|
|
PAWAN JAIN
(M.No.:228026)
|
|
DID NOT EXCLUDE EMPLOYEES WHOSE CONTRIBUTION WAS PAID BY THE GOVERNMENT
DID NOT VERIFY PAYMENT OF ADDITIONAL EMPLOYEE COST BY ACCOUNT PAYEE CHEQUE/DRAFT/ELECTRONIC MEANS
DID NOT VERIFY REORGANIZATION OF BUSINESS WITH VARIOUS PARTIES
DID NOT VERIFY SALARY OF RS.25,000.00 PER MONTH FOR NEW EMPLOYEES
LAPSES IN REPORTING ADDITIONAL EMPLOYEES
|
IMPOSED PENALTY
03-JAN-2024
|
|
| 48 |
|
|
LAHOTI NAVNEET & CO.
(M.No.:116870W)
|
|
|
|
SANJAY SONI
(M.No.:114835)
|
|
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
|
|
| 49 |
|
|
LAVITHA & ASSOCIATES
(M.No.:011882S)
|
|
|
|
LAVITHA SHETTY
(M.No.:220473)
|
|
DID NOT ADHERE TO PARA 2 OF STANDARDS ON AUDITING 220 AND PARA 3 OF STANDARDS ON QUALITY CONTROL WHICH STIPULATES THAT QUALITY CONTROL SYSTEMS, POLICIES AND PROCEDURES ARE RESPONSIBILITY OF THE AUDIT FIRM IN MATTER OF MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT EVALUATE APPROPRIATENESS OF CONTINGENT LIABILITIES AND CREATION OF CHARGES ON THE ASSETS OF MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT PERFORM RISK ASSESSMENT PROCEDURE AND ANALYTICAL PROCEDURE AND DID NOT EXERCISE PROFESSIONAL SKEPTICISM IN RESPECT OF INAPPROPRIATE RECOGNITION OF AS CORRESPONDING BORROWINGS WERE NOT USED FOR BUSINESS ACTIVITY OF MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT PERFORM RISK ASSESSMENT PROCEDURE TO IDENTIFY AND ASSESS RISK OF MATERIAL MIS-STATEMENT DUE TO FRAUD AND DID NOT EXERCISE PROFESSIONAL SKEPTICISM WHILE PERFORMING AUDIT OF RELATED PARTY BALANCES WHICH WERE FRAUDULENTLY UNDERSTATED BY ANOTHER ACCOUNTING FRAUD INVOLVING ISSUANCE OF CHEQUES SHOWING REPAYMENT OF RELATED PARTY LOANS IN F.Y.2018-19 IN MATTER OF MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT UNDERSTAND NATURE OF BUSINESS OF MYSORE AMALGAMATED COFFEE ESTATE LTD. IN AUDIT RELATING TO FRAUDULENT DIVERSION OF FUNDS
DID NOT REPORT MATERIAL MIS-STATEMENT IN CASH FLOW STATEMENT OF MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT CONSIDER MATERIAL MIS-STATEMENTS WHILE MAKING AUDIT CONCLUSIONS AND FORMING AUDIT OPINION OF MYSORE AMALGAMATED COFFEE ESTATE 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 13-05-2023 TO 12-05-2028
13-APR-2023
|
|
| 50 |
|
|
LAVITHA & ASSOCIATES
(M.No.:011882S)
|
|
|
|
LAVITHA SHETTY
(M.No.:220473)
|
|
DID NOT ADHERE TO PARA 2 OF STANDARDS ON AUDITING 220 AND PARA 3 OF STANDARDS ON QUALITY CONTROL WHICH STIPULATES THAT QUALITY CONTROL SYSTEMS, POLICIES AND PROCEDURES ARE RESPONSIBILITY OF THE AUDIT FIRM IN MATTER OF MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT EVALUATE APPROPRIATENESS OF CONTINGENT LIABILITIES AND CREATION OF CHARGES ON THE ASSETS OF MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT PERFORM RISK ASSESSMENT PROCEDURE AND ANALYTICAL PROCEDURE AND DID NOT EXERCISE PROFESSIONAL SKEPTICISM IN RESPECT OF INAPPROPRIATE RECOGNITION OF AS CORRESPONDING BORROWINGS WERE NOT USED FOR BUSINESS ACTIVITY OF MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT UNDERSTAND NATURE OF BUSINESS OF MYSORE AMALGAMATED COFFEE ESTATE LTD. IN AUDIT RELATING TO FRAUDULENT DIVERSION OF FUNDS
DID NOT REPORT MATERIAL MIS-STATEMENT IN CASH FLOW STATEMENT OF MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT CONSIDER MATERIAL MIS-STATEMENTS WHILE MAKING AUDIT CONCLUSIONS AND FORMING AUDIT OPINION OF MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT DETECT EVERGREENING OF LOANS THROUGH STRUCTURING 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 25-05-2023 TO 24-05-2033
25-APR-2023
|
|
| 51 |
|
|
LAVITHA & ASSOCIATES
(M.No.:011882S)
|
|
|
|
LAVITHA SHETTY
(M.No.:220473)
|
|
DID NOT PROVIDE COMPLETE INFORMATION ABOUT REVENUE EARNED FROM RELATED PARTIES OF MYSORE AMALGAMATED COFFEE ESTATE LTD. VIOLATING PARA 7 OF PART I OF SECOND SCHEDULE OF THE CHARTERED ACCOUNTANTS ACT 1949
|
IMPOSED PENALTY
06-SEP-2024
|
|
| 52 |
|
|
M H DALAL & ASSOCIATES
(M.No.:112449W)
|
|
|
DID NOT PERFORM RISK ASSESSMENT PROCEDURE TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENT IN FINANCIAL STATEMENTS
DID NOT PLAN AUDIT OF FINANCIAL STATEMENTS AS PER STANDARDS ON AUDITING 300
DID NOT PREPARE AUDIT DOCUMENTS AS PER STANDARDS ON AUDITING 230
DID NOT DETERMINE MATERIALITY AND PERFORMANCE MATERIALITY VIOLATING PARA 10 OF STANDARDS ON AUDITING 320
DID NOT MAKE DISCLOSURE OF OUTSTANDING CAPITAL ADVANCE OF RS.56.41 CRORE RECEIVABLE FROM RELATED PARTY VIZ MERINO SHELTERS PVT.LTD.
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE IN RESPECT OF NUMBER OF MATERIAL ACCOUNT BALANCES AND TRANSACTIONS
DID NOT PERFORM AUDIT PROCEDURE IN RESPECT OF IDENTIFICATION AND ASSESSMENT OF RISK OF MATERIAL MISSTATEMENT VIOLATING STANDARDS ON AUDITING 315
DID NOT REPORT NON-CONSOLIDATION OF SUBSIDIARY
DID NOT REPORT NON-DISCLOSURE BY MAN INDUSTRIES (INDIA) LTD. OF PLEDGING OF EQUITY SHARES OF ITS SUBSIDIARY MERINO SHELTERS PVT.LTD. OF RS.102.30 CRORE FOR OBTAINING CREDIT FACILITIES FROM SOUTH INDIAN BANK
DID NOT REPORT NON-DISCLOSURE OF CREDIT RISK PROFILE OF TRADE RECEIVABLES
DID NOT REPORT NON-DISCLOSURE OF FULL PARTICULARS OF THE PURPOSE AND UTILISATION OF LOAN OF RS.8.47 CRORE FROM RELATED PARTY MERINO SHELTERS PVT.LTD.
DID NOT REPORT NON-DISCLOSURE OF RELATED PARTY LOAN ON GROSS BASIS
DID NOT CHALLENGE MANAGEMENT DECISION OF RECOGNIZING ONLY A SMALL AMOUNT OF IMPAIRMENT LOSS ALLOWANCES IN RESPECT OF TRADE RECEIVABLES
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT DESIGN AND IMPLEMENT AUDITOR’S RESPONSE TO ASSESSED RISKS
DID NOT DESIGN AND PERFORM ANALYTICAL PROCEDURES VIOLATING PARAS 3(B) AND 6 OF STANDARDS ON AUDITING 520
|
IMPOSED PENALTY RS.50,00,000
28-JUN-2023
|
|
| 53 |
|
|
MAHINDRA HOLIDAYS & RESORTS INDIA LTD.
|
|
|
COMMITTED IRREGULARITIES INCLUDING ACCOUNTING AND AUDITING IN FUNCTIONING OF MAHINDRA HOLIDAYS RESORTS INDIA LTD.
|
DIRECTED TO THOROUGHLY AND PROACTIVELY REVIEW ITS ACCOUNTING POLICIES AND PRACTICES IN RESPECT OF SEGMENT REPORTING, AS THEY RELATE TO APPLICATION OF IND AS 108 AND IND AS 115
DIRECTED TO PROPERLY DOCUMENT REVIEW AND CHANGES BROUGHT IN ITS ACCOUNTING PRACTICES AND REPORTING SPECIALLY WITH RESPECT TO THE CODM'S EXERCISE OF MONITORING AND CONTROL
DIRECTED TO REPORT SEPARATELY TO NFRA THE RESULTS OF THEIR REVIEW AND THE CHANGES EFFECTED IN THE MHRIL'S ACCOUNTING POLICIES AND PRACTICES
29-MAR-2023
|
|
| 54 |
|
|
MANGESH V.KEKRE & ASSOCIATE
(M.No.:012530C)
|
|
|
|
AABHAS TIWARI
(M.No.:403045)
|
|
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
|
|
| 55 |
|
|
MANGESH V.KEKRE & ASSOCIATE
(M.No.:012530C)
|
|
|
|
MANGESH VITHAL KEKRE
(M.No.:403739)
|
|
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 28-04-2023
29-SEP-2023
|
|
| 56 |
|
|
OSWAL SUNIL & CO.
(M.No.:016520N)
|
|
|
|
NARESH KUMAR
(M.No.:085238)
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT DOCUMENTATION
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO FRAUD/SUSPECTED FRAUD AS REQUIRED BY PARAS 16 AND 24 OF STANDARDS ON AUDITING 240
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO JOINT AUDIT AS REQUIRED BY PARAS 2 AND 3 OF STANDARDS ON AUDITING 299
DID NOT EVALUATE PROPERTY, PLANT AND EQUIPMENT AS REQUIRED BY PARAS 6, 15 AND 16 OF STANDARDS ON AUDITING 200 AND 500
DID NOT GIVE APPROPRIATE AUDIT OPINION
DID NOT PERFORM DUTIES WITH RESPECT TO UNUSUAL TRANSACTIONS VIOLATING PARA 28 OF STANDARDS OF ACCOUNTING 315 AND PARA 16 OF STANDARDS OF ACCOUNTING 550 AND PARA 32(C) OF STANDARDS ON AUDITING 240
SUBMITTED FALSE AND MISLEADING STATEMENTS RELATED TO ENGAGEMENT OF QUALITY CONTROL REVIEW (EQCR) PARTNER
DID NOT DETERMINE MATERIALITY FOR FINANCIAL STATEMENTS AS A WHOLE WHILE ESTABLISHING AUDIT STRATEGY VIOLATING STANDARDS ON AUDITING 320
DID NOT DEVELOP AND DOCUMENT THE AUDIT PLAN AND AUDIT STRATEGY THAT SET THE SCOPE, TIMING AND DIRECTION OF AUDIT VIOLATING STANDARDS ON AUDITING 300
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING SECTION 143(9) OF COMPANIES ACT, 2013
DID NOT REPORT NON-COMPLIANCE WITH IND STANDARDS ON AUDITING 36 IMPAIRMENT OF ASSETS
|
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 21-05-2023 TO 20-05-2026
21-APR-2023
|
|
| 57 |
|
|
PATHAK H.D.& ASSOCIATES
(M.No.:107783W)
|
|
|
DID NOT IDENTIFY AND RESPOND APPROPRIATELY TO RISK OF MATERIAL MISSTATEMENT DUE TO FRAUD IN MANAGEMENT OVERRIDE OF CONTROLS AND REVENUE
DID NOT PERFORM ROLE OF ENGAGEMENT QUALITY CONTROL REVIEW (EQCR) OBJECTIVELY
INDULGED IN SELF-REVIEW BY PREPARING MATERIAL INFORMATION FOR FINANCIAL STATEMENTS OF THE COMPANY
MISLED USERS OF THE FINANCIAL STATEMENTS
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING COMPLIANCE WITH LENDING POLICY
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING REASONABILITY OF ESTIMATE OF EXPECTED CREDIT LOSS (ECL) AND RELATED DISCLOSURES IN FINANCIAL STATEMENTS
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE SUPPORTING SIGNIFICANT ACCOUNTS, INCLUDING ACCOUNTS DESIGNATED AS A FRAUD RISK OR SIGNIFICANT RISK AND DID NOT COMPLYING WITH MULTIPLE PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (PCAOB) AUDITING STANDARDS
DID NOT CARRY OUT ANY INDEPENDENT PROCEDURES REGARDING RESPONSIBILITIES OF JOINT AUDITOR
|
IMPOSED PENALTY RS.3,00,00,000
12-APR-2024
|
|
| 58 |
|
|
PATHAK H.D.& ASSOCIATES
(M.No.:107783W)
|
|
|
|
PARIMAL KUMAR JHA
(M.No.:124262)
|
|
DID NOT IDENTIFY AND RESPOND APPROPRIATELY TO RISK OF MATERIAL MISSTATEMENT DUE TO FRAUD IN MANAGEMENT OVERRIDE OF CONTROLS AND REVENUE
DID NOT PERFORM ROLE OF ENGAGEMENT QUALITY CONTROL REVIEW (EQCR) OBJECTIVELY
INDULGED IN SELF-REVIEW BY PREPARING MATERIAL INFORMATION FOR FINANCIAL STATEMENTS OF THE COMPANY
MISLED USERS OF THE FINANCIAL STATEMENTS
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING COMPLIANCE WITH LENDING POLICY
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING REASONABILITY OF ESTIMATE OF EXPECTED CREDIT LOSS (ECL) AND RELATED DISCLOSURES IN FINANCIAL STATEMENTS
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE SUPPORTING SIGNIFICANT ACCOUNTS, INCLUDING ACCOUNTS DESIGNATED AS A FRAUD RISK OR SIGNIFICANT RISK AND DID NOT COMPLYING WITH MULTIPLE PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (PCAOB) AUDITING STANDARDS
DID NOT CARRY OUT ANY INDEPENDENT PROCEDURES REGARDING RESPONSIBILITIES OF JOINT AUDITOR
|
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 12-05-2024 TO 11-05-2034
12-APR-2024
|
|
| 59 |
|
|
PATHAK H.D.& ASSOCIATES
(M.No.:107783W)
|
|
|
|
VISHAL D.SHAH
(M.No.:119303)
|
|
DID NOT IDENTIFY AND RESPOND APPROPRIATELY TO RISK OF MATERIAL MISSTATEMENT DUE TO FRAUD IN MANAGEMENT OVERRIDE OF CONTROLS AND REVENUE
DID NOT PERFORM ROLE OF ENGAGEMENT QUALITY CONTROL REVIEW (EQCR) OBJECTIVELY
INDULGED IN SELF-REVIEW BY PREPARING MATERIAL INFORMATION FOR FINANCIAL STATEMENTS OF THE COMPANY
MISLED USERS OF THE FINANCIAL STATEMENTS
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING COMPLIANCE WITH LENDING POLICY
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING REASONABILITY OF ESTIMATE OF EXPECTED CREDIT LOSS (ECL) AND RELATED DISCLOSURES IN FINANCIAL STATEMENTS
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE SUPPORTING SIGNIFICANT ACCOUNTS, INCLUDING ACCOUNTS DESIGNATED AS A FRAUD RISK OR SIGNIFICANT RISK AND DID NOT COMPLYING WITH MULTIPLE PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (PCAOB) AUDITING STANDARDS
DID NOT CARRY OUT ANY INDEPENDENT PROCEDURES REGARDING RESPONSIBILITIES OF JOINT AUDITOR
|
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 12-05-2024 TO 11-05-2029
12-APR-2024
|
|
| 60 |
|
|
PCN & ASSOCIATES
(M.No.:016016S)
|
|
|
DID NOT SUBMIT REQUISITE INFORMATION AND DID NOT CO-OPERATE WITH NFRA
|
IMPOSED PENALTY RS.50,00,000
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 26-05-2024 TO 25-05-2026
26-APR-2024
|
|
| 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 3 of 5
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