SOURCE OF INFORMATION : NATIONAL FINANCIAL REPORTING AUTHORITY
PERIOD COVERED : 22-JUL-2020 TO 30-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: COMMITTED PROFESSIONAL MISCONDUCT AS CHARTERED ACCOUNTS ACT, 1949

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

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

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-JAN-2024 TO 04-JAN-2034

IMPOSED PENALTY RS.5,00,000

05-DEC-2023

CHATURVEDI & SHAH LLP

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

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 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

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

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 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

IMPOSED PENALTY RS.1,00,00,000

26-APR-2024

DHIRAJ & DHEERAJ

(M.No.:102454W)

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

DHIRAJ & DHEERAJ

(M.No.:102454W)

PAWAN KUMAR GUPTA

(M.No.:051713)

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

G.BASU & CO.

(M.No.:301174E)

GAUTAM GUHA

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 MISMATCH IN INVESTMENT SCHEDULE IN FINANCIAL STATEMENTS 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.

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 IMPROPER ACCOUNTING OF ASSETS GIVEN ON FINANCE LEASE 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.

IMPOSED PENALTY RS.1,00,000

12-JUN-2023

GSV & CO.

(M.No.:123334W)

HEMANT KHATOR

(M.No.:117596)

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 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 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 PLAN AUDIT AND DID NOT UNDERSTAND ENTITY AND ITS ENVIRONMENT

DID NOT REPORT NON-COMPLIANCE WITH LAWS AND REGULATIONS

IMPOSED PENALTY RS.2,00,000

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 28-MAY-2023 TO 27-MAY-2025

28-APR-2023

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

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-2030

IMPOSED PENALTY RS.5,00,000

23-DEC-2024

HARIBHAKTI & CO.LLP

RAKESH RATHI

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

JUMANI & CO.

(M.No.:135870W)

SUNIL R.JUMANI

(M.No.:049586)

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 ASSESS RISK OF MATERIAL MISSTATEMENT IN BALANCES OF TRADE RECEIVABLES

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 APPOINT ENGAGEMENT OF QUALITY CONTROL REVIEWER (EQCR)

DID NOT ENSURE REQUIRE AGREEMENT WITH MANAGEMENT TO UNDERTAKE AUDIT

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

DID NOT EVALUATE IMPAIRMENT OF PROPERTY, PLANT AND EQUIPMENT

IMPOSED PENALTY RS.25,00,000

21-AUG-2023

K.PANDEYA & CO.

(M.No.:000135C)

MANJEET KUMAR VERMA

(M.No.:075926)

DID NOT ADHERE TO PROCEDURES RELATING TO ACCEPTANCE OF AUDIT

DID NOT APPOINT ENGAGEMENT OF QUALITY CONTROL REVIEWER (EQCR)

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

DID NOT ENSURE REQUIRE AGREEMENT WITH MANAGEMENT TO UNDERTAKE AUDIT

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.

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-SEP-2023 TO 20-SEP-2028

IMPOSED PENALTY RS.5,00,000

21-AUG-2023