SOURCE OF INFORMATION : NATIONAL FINANCIAL REPORTING AUTHORITY
PERIOD COVERED : 22-JUL-2020 TO 28-APR-2026

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

101

PATHAK H.D.& ASSOCIATES

(M.No.:107783W)

DID NOT CARRY OUT ANY INDEPENDENT PROCEDURES REGARDING RESPONSIBILITIES OF JOINT AUDITOR

DID NOT IDENTIFY AND RESPOND APPROPRIATELY TO RISK OF MATERIAL MISSTATEMENT DUE TO FRAUD IN MANAGEMENT OVERRIDE OF CONTROLS AND REVENUE

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 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

IMPOSED PENALTY RS.3,00,00,000

12-APR-2024

102

PATHAK H.D.& ASSOCIATES

(M.No.:107783W)

PARIMAL KUMAR JHA

(M.No.:124262)

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-MAY-2024 TO 11-MAY-2034

IMPOSED PENALTY RS.1,00,00,000

12-APR-2024

103

PATHAK H.D.& ASSOCIATES

(M.No.:107783W)

VISHAL D.SHAH

(M.No.:119303)

104

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 RS.50,00,000

03-JAN-2024

105

PAWAN KUMAR GUPTA

(M.No.:051713)

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 CARRY OUT ADEQUATE AUDIT PROCEDURES

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 PERFORM ROLE OF ENGAGEMENT QUALITY CONTROL REVIEW (EQCR) OBJECTIVELY

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-MAY-2024 TO 25-MAY-2027

IMPOSED PENALTY RS.10,00,000

26-APR-2024

106

PCN & ASSOCIATES

(M.No.:016016S)

DID NOT SUBMIT REQUISITE INFORMATION AND DID NOT CO-OPERATE WITH 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 26-MAY-2024 TO 25-MAY-2026

IMPOSED PENALTY RS.50,00,000

26-APR-2024

107

PCN & ASSOCIATES

(M.No.:016016S)

GOPALA KRISHNA KANDULA

(M.No.:203605)

DID NOT SUBMIT REQUISITE INFORMATION AND DID NOT CO-OPERATE WITH 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 26-MAY-2024 TO 25-MAY-2034

IMPOSED PENALTY RS.30,00,000

26-APR-2024

108

PIYUSH PATNI

(M.No.:143869)

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-MAY-2024 TO 25-MAY-2029

IMPOSED PENALTY RS.50,00,000

26-APR-2024

109

PRANAAV G.AMBEKAR

(M.No.:240379)

DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING

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 APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE

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 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.

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-MAY-2023 TO 12-MAY-2028

IMPOSED PENALTY RS.5,00,000

12-APR-2023

110

PRIYANK MITTAL

(M.No.:405669)

DID NOT APPOINT ENGAGEMENT OF QUALITY CONTROL REVIEWER (EQCR)

DID NOT ASSEMBLE AUDIT FILE WITHIN SIXTY DAYS OF COMPLETION OF AUDIT

DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)

DID NOT DETERMINE MATERIALITY AND PERFORMANCE MATERIALITY VIOLATING PARA 10 OF STANDARDS ON AUDITING 320

DID NOT EVALUATE ARM�S LENGTH PRICING FOR TRANSACTIONS ENTERED WITH RELATED PARTIES

DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE THROUGH EXTERNAL CONFIRMATIONS

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

DID NOT REPORT NON CHARGING OF DEPRECIATION OF LEASE HOLD AND PLANT & MACHINERY

DID NOT REPORT NON-PROVISIONING IN RESPECT OF EXPECTED CREDIT LOSS

DID NOT REPORT ON ENTITY�S ABILITY TO CONTINUE AS A GOING CONCERN

DID NOT VERIFY OPENING BALANCES

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-AUG-2024 TO 04-AUG-2026

IMPOSED PENALTY RS.2,00,000

05-JUL-2024

111

R.D.KUNDALIA & ASSOCIATES

(M.No.:130789W)

RASHMIKANT D.KUNDALIA

(M.No.:036775)

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 RS.1,00,000

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 29-OCT-2023 TO 28-OCT-2024

29-SEP-2023

112

R.SHAH & CO.

(M.No.:502010C)

HARISH SHARMA

(M.No.:403129)

113

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

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

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)

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-NOV-2023 TO 03-NOV-2026

IMPOSED PENALTY RS.5,00,000

04-OCT-2023

114

RAKESH PURI

(M.No.:092728)

DID NOT APPOINT ENGAGEMENT OF QUALITY CONTROL REVIEWER (EQCR)

DID NOT CHECK CONTRACT NOTES OF COMMODITY TRADES

DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)

DID NOT EVALUATE ACCOUNTING POLICY RELATING TO RECOGNITION OF REVENUE

DID NOT EVALUATE RISK OF FRAUD IN REVENUE RECOGNITION

DID NOT MAKE DISCLOSURE OF MATERIAL MISSTATEMENTS IN AUDIT REPORT

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

DID NOT VERIFY BALANCES OF DEBTORS AND CREDITORS

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-JUN-2023 TO 18-JUN-2028

IMPOSED PENALTY RS.5,00,000

19-MAY-2023

115

RAKESH RATHI

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

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 23-JAN-2025 TO 22-JAN-2028

IMPOSED PENALTY RS.3,00,000

23-DEC-2024

116

RAM ALOK & CO.

(M.No.:011313C)

VISHWANATH GOSWAMI

(M.No.:401362)