| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 61 |
|
RAMESH CHATURVEDI & CO.
(M.No.:113621W)
|
|
|
|
RAMESH CHATURVEDI
(M.No.:044886)
|
|
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
|
|
| 62 |
|
|
S.PRAKASH AGGARWAL & CO.
(M.No.:06105C)
|
|
|
DID NOT EXERCISE DUE DILIGENCE OR 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 MAKE DISCLOSURE OF MATERIAL FACT IN A FINANCIAL STATEMENT
DID NOT OBTAIN SUFFICIENT INFORMATION NECESSARY FOR EXPRESSION OF OPINION OR ITS EXCEPTIONS MATERIAL TO NEGATE EXPRESSION OF OPINION
DID NOT REPORT MATERIAL MISSTATEMENTS KNOWN TO HIM IN TO APPEAR IN A FINANCIAL STATEMENTS
|
IMPOSED PENALTY RS.5,00,000
23-APR-2024
|
|
| 63 |
|
|
SHAH & TAPARIA
(M.No.:109463W)
|
|
|
|
RAMESH PIPALAWA
(M.No.:103840)
|
|
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
|
|
| 64 |
|
|
SHEKHAR SHARAD & CO.
(M.No.:011338C)
|
|
|
|
RIYA AGARWAL
|
|
ACCEPTED APPOINTMENT AS ENGAGEMENT OF QUALITY CONTROL REVIEW (EQCR) WITHOUT ENSURING ELIGIBILITY CRITERIA
DID NOT PERFORM ROLE OF ENGAGEMENT QUALITY CONTROL REVIEW (EQCR) OBJECTIVELY
DID NOT CONDUCT REVIEW OF THE WORK OF ENGAGEMENT TEAM (ET) IN ACCORDANCE WITH THE STANDARD ON ACCOUNTING
|
IMPOSED PENALTY RS.1,00,000
01-AUG-2023
|
|
| 65 |
|
|
SHEKHAR SHARAD & CO.
(M.No.:011338C)
|
|
|
|
SHEKHAR SHARAD
|
|
DID NOT CONDUCT AUDIT IN ACCORDANCE WITH STANDARD ON AUDITING AND DID NOT ANALYSE AND REPORT APPROPRIATENESS OF USE OF GOING CONCERN IN PREPARATION OF FINANCIAL STATEMENTS
DID NOT DISCLOSE REPORT THE MATERIAL NON-COMPLIANCES BY CO.
DID NOT INVITE ATTENTION TO ANY MATERIAL DEPARTURE FROM GENERALLY ACCEPTED PROCEDURE OF AUDIT APPLICABLE TO CIRCUMSTANCES
IMPROPER ASSESSMENT OF APPROPRIATENESS OF USE OF GOING CONCERN BASIS OF ACCOUNTING
IMPROPER REPORTING OF GOING CONCERN BASIS IN INDEPENDENT AUDITOR’S REPORT
INCONSISTENCY IN AUDIT DOCUMENTATION
|
IMPOSED PENALTY RS.1,00,000
01-AUG-2023
|
|
| 66 |
|
|
SHRIDHAR & ASSOCIATES,THE
(M.No.:134427W)
|
|
|
ACCEPTED AUDIT ENGAGEMENT WITHOUT FIRST COMMUNICATING WITH PREVIOUS AUDITOR AND WITHOUT WAITING FOR A REASONABLE TIME FOR A REPLY
DID NOT ADEQUATELY EXAMINE END-USE OF LOANS, INDICATIONS OF SIPHONING OF FUNDS FROM COMPANY, MANAGEMENT OF OVERRIDE OF CONTROLS, BUSINESS RATIONALE OF SANCTIONING AND DISBURSING LOANS BY THE COMPANY
DID NOT ASSESS AND DOCUMENT IMPACT OF MATERIAL WEAKNESS IN INTERNAL CONTROL ON EXPECTED CREDIT LOSS (ECL)
DID NOT COMMUNICATE KEY AUDIT MATTER (KAM) WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT CONTAIN SUFFICIENT BASIS FOR AUDITORS TO CONCLUDE AND REPORT THAT THERE WAS NO MATERIAL UNCERTAINTY REGARDING GOING CONCERN STATUS OF RELIANCE COMMERCIAL FINANCE LTD.
DID NOT EXERCISE PROFESSIONAL SKEPTICISM IN AUDITING COMPLEX ACCOUNTING ESTIMATES OF EXPECTED CREDIT LOSS (ECL)
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE
DID NOT REPORT ABSENCE OF ADEQUATE PROVISION FOR ORIGINATED CREDIT-IMPAIRED LOANS
MISUSED EMPHASIS OF MATTERS SECTION TO REPORT FINDING REGARDING SUSPECTED FRAUD BY PREVIOUS AUDITOR IN AUDIT REPORT TO MEMBERS
|
IMPOSED PENALTY RS.2,00,00,000
16-MAY-2024
|
|
| 67 |
|
|
SHRIDHAR & ASSOCIATES,THE
(M.No.:134427W)
|
|
|
|
AJAY VASTANI
(M.No.:132265)
|
|
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE
DID NOT REPORT ABSENCE OF ADEQUATE PROVISION FOR ORIGINATED CREDIT-IMPAIRED LOANS
MISUSED EMPHASIS OF MATTERS SECTION TO REPORT FINDING REGARDING SUSPECTED FRAUD BY PREVIOUS AUDITOR IN AUDIT REPORT TO MEMBERS
ACCEPTED AUDIT ENGAGEMENT WITHOUT FIRST COMMUNICATING WITH PREVIOUS AUDITOR AND WITHOUT WAITING FOR A REASONABLE TIME FOR A REPLY
DID NOT ADEQUATELY EXAMINE END-USE OF LOANS, INDICATIONS OF SIPHONING OF FUNDS FROM COMPANY, MANAGEMENT OF OVERRIDE OF CONTROLS, BUSINESS RATIONALE OF SANCTIONING AND DISBURSING LOANS BY THE COMPANY
DID NOT ASSESS AND DOCUMENT IMPACT OF MATERIAL WEAKNESS IN INTERNAL CONTROL ON EXPECTED CREDIT LOSS (ECL)
DID NOT COMMUNICATE KEY AUDIT MATTER (KAM) WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT CONTAIN SUFFICIENT BASIS FOR AUDITORS TO CONCLUDE AND REPORT THAT THERE WAS NO MATERIAL UNCERTAINTY REGARDING GOING CONCERN STATUS OF RELIANCE COMMERCIAL FINANCE LTD.
DID NOT EXERCISE PROFESSIONAL SKEPTICISM IN AUDITING COMPLEX ACCOUNTING ESTIMATES OF EXPECTED CREDIT LOSS (ECL)
|
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 16-JUN-2024 TO 15-JUN-2029
IMPOSED PENALTY RS.50,00,000
16-MAY-2024
|
|
| 68 |
|
|
SINGH AJAY & CO.
(M.No.:007495C)
|
|
|
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
|
IMPOSED PENALTY RS.3,00,000
05-JUL-2024
|
|
| 69 |
|
|
SINGH AJAY & CO.
(M.No.:007495C)
|
|
|
|
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
|
|
| 70 |
|
|
SMMP & CO.
(M.No.:120438W)
|
|
|
|
SHYAM MALPANI
(M.No.:034171)
|
|
DID NOT FORM AUDIT OPINIONS IN INDEPENDENT AUDITOR’S REPORT VIOLATING STANDARDS ON AUDITING 705
DID NOT MAINTAIN INDEPENDENCE OF AUDITOR
|
IMPOSED PENALTY RS.5,00,000
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 20-JAN-2024 TO 19-JAN-2029
20-DEC-2023
|
|
| 71 |
|
|
SUNDARESHA & ASSOCIATES
(M.No.:008012S)
|
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT ENGAGEMENT VIOLATING STANDARDS ON QUALITY CONTROL (SQC)
DID NOT ASSEMBLE AUDIT FILE WITHIN SIXTY DAYS OF SIGNING OF AUDIT REPORT VIOLATING STANDARDS ON AUDITING 230
DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT CONSIDER MATERIAL MISSTATEMENTS OF RS.1776.16 CRORE WHILE MAKING AUDIT CONCLUSIONS AND FORMING AUDIT OPINION VIOLATING STANDARDS ON AUDITING 700
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 REPORT MATERIAL MIS-STATEMENT OF RS.325 CRORE IN CASH FLOW STATEMENT OF GIRI VIDHYUT (INDIA) LTD.
DID NOT ENSURE FINANCIAL STATEMENTS OF GIRI VIDHYUT (INDIA) LTD. APPROVED BY BOARD OF DIRECTORS AND SIGNED BY THE DIRECTORS AUTHORIZED
DID NOT ENSURE MATERIAL INCONSISTENCY BETWEEN OTHER INFORMATION IN ANNUAL REPORT AND FINANCIAL STATEMENTS VIOLATING STANDARDS ON AUDITING 720
DID NOT EVALUATE MANAGEMENT’S ASSESSMENT OF THE ENTITY’S ABILITY TO CONTINUE AS GOING CONCERN IN MATTER OF GIRI VIDHYUT (INDIA) LTD.
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT WHILE PERFORMING AUDIT OF GIRI VIDHYUT (INDIA) LTD.
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE IN MATTER OF GIRI VIDHYUT (INDIA) LTD.
DID NOT PERFORM AUDIT WITH PROFESSIONAL SKEPTICISM AND DID NOT PERFORM RISK ASSESSMENT PROCEDURES TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENT IN FINANCIAL STATEMENTS DUE TO FRAUDULENT DIVERSION OF RS.520 CRORE, UNDERSTATEMENT OF RELATED PARTY LOAN BY RS.350 CRORE AND EVERGREENING OF LOANS IN MATTER OF GIRI VIDHYUT (INDIA) 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 26-MAY-2025 TO 25-MAY-2027
IMPOSED PENALTY RS.1,00,00,000
30-MAY-2023
|
|
| 72 |
|
|
SUNDARESHA & ASSOCIATES
(M.No.:008012S)
|
|
|
|
C.RAMESH
(M.No.:022268)
|
|
|
CHAITANYA G.DESHPANDE
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT ENGAGEMENT VIOLATING STANDARDS ON QUALITY CONTROL (SQC)
DID NOT ASSEMBLE AUDIT FILE WITHIN SIXTY DAYS OF SIGNING OF AUDIT REPORT VIOLATING STANDARDS ON AUDITING 230
DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT CONSIDER MATERIAL MISSTATEMENTS OF RS.1776.16 CRORE WHILE MAKING AUDIT CONCLUSIONS AND FORMING AUDIT OPINION VIOLATING STANDARDS ON AUDITING 700
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 REPORT MATERIAL MIS-STATEMENT OF RS.325 CRORE IN CASH FLOW STATEMENT OF GIRI VIDHYUT (INDIA) LTD.
DID NOT ENSURE FINANCIAL STATEMENTS OF GIRI VIDHYUT (INDIA) LTD. APPROVED BY BOARD OF DIRECTORS AND SIGNED BY THE DIRECTORS AUTHORIZED
DID NOT ENSURE MATERIAL INCONSISTENCY BETWEEN OTHER INFORMATION IN ANNUAL REPORT AND FINANCIAL STATEMENTS VIOLATING STANDARDS ON AUDITING 720
DID NOT EVALUATE MANAGEMENT’S ASSESSMENT OF THE ENTITY’S ABILITY TO CONTINUE AS GOING CONCERN IN MATTER OF GIRI VIDHYUT (INDIA) LTD.
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT WHILE PERFORMING AUDIT OF GIRI VIDHYUT (INDIA) LTD.
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE IN MATTER OF GIRI VIDHYUT (INDIA) LTD.
DID NOT PERFORM AUDIT WITH PROFESSIONAL SKEPTICISM AND DID NOT PERFORM RISK ASSESSMENT PROCEDURES TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENT IN FINANCIAL STATEMENTS DUE TO FRAUDULENT DIVERSION OF RS.520 CRORE, UNDERSTATEMENT OF RELATED PARTY LOAN BY RS.350 CRORE AND EVERGREENING OF LOANS IN MATTER OF GIRI VIDHYUT (INDIA) 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 30-JUN-2023 TO 29-JUN-2028
IMPOSED PENALTY RS.10,00,000
30-MAY-2023
|
|
| 73 |
|
|
SUNDARESHA & ASSOCIATES
(M.No.:008012S)
|
|
|
CONTINUED AUDIT ENGAGEMENT DISREGARDING INDEPENDENCE REQUIREMENTS
DID NOT APPROVE FINANCIAL STATEMENTS FROM BOARD OF DIRECTORS BEFORE SIGNED BY BOARD AND AUDITORS
DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT DETECT EVERGREENING OF LOANS THROUGH STRUCTURED CIRCULAR TRANSACTIONS OF FUNDS
DID NOT FORM OPINION AND REPORTING ON FINANCIAL STATEMENTS
DID NOT IDENTIFY AND ASSESS RISK OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING NATURE OF ENTITY
DID NOT OBTAIN AND EXAMINE VALUATION REPORT OF “GLOBAL VILLAGE UNDERTAKING”
TAMPERED AUDIT FILE TO MISLEAD NFRA AND MAKING AUDIT FILE UNRELIABLE
|
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-2023 TO 25-MAY-2027
IMPOSED PENALTY RS.1,00,00,000
18-AUG-2023
|
|
| 74 |
|
|
SUNDARESHA & ASSOCIATES
(M.No.:008012S)
|
|
|
|
C.RAMESH
(M.No.:022268)
|
|
CONTINUED AUDIT ENGAGEMENT DISREGARDING INDEPENDENCE REQUIREMENTS
DID NOT APPROVE FINANCIAL STATEMENTS FROM BOARD OF DIRECTORS BEFORE SIGNED BY BOARD AND AUDITORS
DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT DETECT EVERGREENING OF LOANS THROUGH STRUCTURED CIRCULAR TRANSACTIONS OF FUNDS
DID NOT FORM OPINION AND REPORTING ON FINANCIAL STATEMENTS
DID NOT IDENTIFY AND ASSESS RISK OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING NATURE OF ENTITY
DID NOT OBTAIN AND EXAMINE VALUATION REPORT OF “GLOBAL VILLAGE UNDERTAKING”
TAMPERED AUDIT FILE TO MISLEAD NFRA AND MAKING AUDIT FILE UNRELIABLE
|
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-2023 TO 25-MAY-2028
IMPOSED PENALTY RS.5,00,000
18-AUG-2023
|
|
| 75 |
|
|
SUNDARESHA & ASSOCIATES
(M.No.:008012S)
|
|
|
|
CHAITANYA G.DESHPANDE
(M.No.:230802)
|
|
CONTINUED AUDIT ENGAGEMENT DISREGARDING INDEPENDENCE REQUIREMENTS
DID NOT APPROVE FINANCIAL STATEMENTS FROM BOARD OF DIRECTORS BEFORE SIGNED BY BOARD AND AUDITORS
DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT DETECT EVERGREENING OF LOANS THROUGH STRUCTURED CIRCULAR TRANSACTIONS OF FUNDS
DID NOT FORM OPINION AND REPORTING ON FINANCIAL STATEMENTS
DID NOT IDENTIFY AND ASSESS RISK OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING NATURE OF ENTITY
DID NOT OBTAIN AND EXAMINE VALUATION REPORT OF “GLOBAL VILLAGE UNDERTAKING”
TAMPERED AUDIT FILE TO MISLEAD NFRA AND MAKING AUDIT FILE UNRELIABLE
|
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 30-JUN-2023 TO 29-AUG-2028
IMPOSED PENALTY RS.5,00,000
18-AUG-2023
|
|
| 76 |
|
|
SUNDARESHA & ASSOCIATES
(M.No.:008012S)
|
|
|
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM RISK ASSESSMENT PROCEDURE WHILE PERFORMING AUDIT OF FRAUDULENT DIVERSION OF FUNDS IN GARB OF LAND ADVANCE OF RS.415 CRORE GIVEN TO RELATED PARTIES
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM RISK ASSESSMENT PROCEDURE WHILE PERFORMING AUDIT OF INTEREST INCOME OF RS.76.84 CRORE RECEIVED/RECEIVABLE FROM MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM RISK ASSESSMENT PROCEDURE WHILE PERFORMING AUDIT OF LOAN RS.507.05 CRORE GIVEN TO GIRI VIDHYUT (INDIA) LTD.
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM RISK ASSESSMENT PROCEDURE WHILE PERFORMING AUDIT OF LOAN TRANSACTIONS RS.1743.42 CRORE GIVEN TO TANGLIN RETAIL REALITY DEVELOPMENTS PVT.LTD.
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE IN MATTER OF TANGLIN DEVELOPMENTS LTD.
DID NOT PERFORM RISK ASSESSMENT PROCEDURE TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENT IN FINANCIAL STATEMENTS
DID NOT REPORT FRAUDULENT LOAN TRANSACTIONS WITH MYSORE AMALGAMATED COFFEE ESTATE LTD. AND EVERGREENING OF LOANS THROUGH STRUCTURED CIRCULATION OF FUNDS
TEMPERED AUDIT FILE WITHOUT VALID REASON AND MADE AUDIT FILE UNRELIABLE IN MATTER OF TANGLIN DEVELOPMENTS 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 26-MAY-2023 TO 25-MAY-2025
IMPOSED PENALTY RS.1,00,00,000
26-APR-2023
|
|
| 77 |
|
|
SUNDARESHA & ASSOCIATES
(M.No.:008012S)
|
|
|
|
C.RAMESH
(M.No.:022268)
|
|
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM RISK ASSESSMENT PROCEDURE WHILE PERFORMING AUDIT OF FRAUDULENT DIVERSION OF FUNDS IN GARB OF LAND ADVANCE OF RS.415 CRORE GIVEN TO RELATED PARTIES
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM RISK ASSESSMENT PROCEDURE WHILE PERFORMING AUDIT OF INTEREST INCOME OF RS.76.84 CRORE RECEIVED/RECEIVABLE FROM MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM RISK ASSESSMENT PROCEDURE WHILE PERFORMING AUDIT OF LOAN RS.507.05 CRORE GIVEN TO GIRI VIDHYUT (INDIA) LTD.
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM RISK ASSESSMENT PROCEDURE WHILE PERFORMING AUDIT OF LOAN TRANSACTIONS RS.1743.42 CRORE GIVEN TO TANGLIN RETAIL REALITY DEVELOPMENTS PVT.LTD.
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE IN MATTER OF TANGLIN DEVELOPMENTS LTD.
DID NOT PERFORM RISK ASSESSMENT PROCEDURE TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENT IN FINANCIAL STATEMENTS
DID NOT REPORT FRAUDULENT LOAN TRANSACTIONS WITH MYSORE AMALGAMATED COFFEE ESTATE LTD. AND EVERGREENING OF LOANS THROUGH STRUCTURED CIRCULATION OF FUNDS
TEMPERED AUDIT FILE WITHOUT VALID REASON AND MADE AUDIT FILE UNRELIABLE IN MATTER OF TANGLIN DEVELOPMENTS LTD.
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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-2023 TO 25-MAY-2028
IMPOSED PENALTY RS.5,00,000
26-APR-2023
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| 78 |
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SVP & ASSOCIATES
(M.No.:003838N)
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PANKAJ KUMAR
(M.No.:091822)
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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 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 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
SUBMITTED FALSE AND MISLEADING STATEMENTS RELATED TO ENGAGEMENT OF QUALITY CONTROL REVIEW (EQCR) PARTNER
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING SECTION 143(9) OF COMPANIES ACT, 2013
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IMPOSED PENALTY RS.3,00,000
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 21-MAY-2023 TO 20-MAY-2026
21-APR-2023
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| 79 |
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SVP & ASSOCIATES
|
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APOORVE BANSAL
(M.No.:003838N)
|
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ACCEPTED APPOINTMENT AS ENGAGEMENT OF QUALITY CONTROL REVIEW (EQCR) WITHOUT ENSURING ELIGIBILITY CRITERIA
DID NOT ADHERE TO FUNDAMENTAL PRINCIPLES OF PROFESSIONAL BEHAVIOUR, PROFESSIONAL COMPETENCE AND DUE CARE ON ACCOUNT OF DEFICIENCIES IN PERFORMANCE OF STATUTORY DUTIES AS ENGAGEMENT OF QUALITY CONTROL REVIEW (EQCR)
DID NOT PERFORM ROLE OF ENGAGEMENT QUALITY CONTROL REVIEW (EQCR) OBJECTIVELY
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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-OCT-2023 TO 24-OCT-2024
IMPOSED PENALTY RS.1,00,000
26-SEP-2023
|
|
| 80 |
|
|
SVP & ASSOCIATES
(M.No.:003838N)
|
|
|
|
PANKAJ KUMAR
(M.No.:091822)
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT DOCUMENTATION
DID NOT APPOINT ENGAGEMENT OF QUALITY CONTROL REVIEWER (EQCR)
DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT DETERMINE MATERIALITY FOR FINANCIAL STATEMENTS AS A WHOLE WHILE ESTABLISHING AUDIT STRATEGY VIOLATING STANDARDS ON AUDITING 320
DID NOT EVALUATE RISK OF FRAUD IN REVENUE RECOGNITION
DID NOT GIVE APPROPRIATE AUDIT OPINION
DID NOT IDENTIFY AND ASSESS RISK OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING NATURE OF ENTITY
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING ENTITY’S ABILITY TO CONTINUE AS GOING CONCERN
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING EXISTENCE AND CONDITION OF INVENTORY
DID NOT PLAN AUDIT OF FINANCIAL STATEMENTS AS PER STANDARDS ON AUDITING 300
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING SECTION 143(9) OF COMPANIES ACT, 2013
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IMPOSED PENALTY RS.3,00,000
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 21-MAY-2023 TO 20-MAY-2026
08-JAN-2024
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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 4 of 5
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