| S.No. |
PERSON |
ENTITY |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
A.B.JANI
(M.No.:46488)
|
|
|
|
DELOITTE HASKINS & SELLS LLP
(M.No.:117366W)
|
|
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
|
IMPOSED PENALTY RS.10,00,000
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 23-12-2024 TO 22-12-2029
23-DEC-2024
|
|
| 2 |
|
|
A.S.SUNDARESHA
(M.No.:019728)
|
|
|
|
ASRMP & CO.
(M.No.:018350S)
|
|
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 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 PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE
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.
DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING
|
IMPOSED PENALTY RS.10,00,000
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 13-05-2023 TO 12-05-2028
12-APR-2023
|
|
| 3 |
|
|
A.S.SUNDARESHA
(M.No.:019728)
|
|
|
|
ASRMP & CO.
(M.No.:018350S)
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT DOCUMENTATION
DID NOT EXERCISE PROFESSIONAL JUDGEMENT AND SKEPTICISM DURING AUDIT OF TRANSACTIONS RELATING TO SALE OF FRESH AND GROUND BUSINESS INVOLVING DIVERSION OF FUNDS
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 PERFORM RISK ASSESSMENT PROCEDURES TO IDENTIFY, ASSESS AND RESPOND TO THE RISK OF MATERIAL MISSTATEMENTS DUE TO FRAUD IN THE AUDIT OF PROVISIONS MADE FOR SUPPLIER ADVANCES, DOUBTFUL DEBTS AND DOUBTFUL ADVANCE
DID NOT REPORT FRAUDULENT DIVERSION OF FUNDS TO CENTRAL GOVERNMENT
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE
DID NOT DETECT EVERGREENING OF LOANS THROUGH STRUCTURED CIRCULAR TRANSACTIONS OF FUNDS
|
IMPOSED PENALTY RS.10,00,000
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 13-05-2023 TO 12-05-2033
28-JUL-2023
|
|
| 4 |
|
|
AABHAS TIWARI
(M.No.:403045)
|
|
|
|
MANGESH V.KEKRE & ASSOCIATE
(M.No.:012530C)
|
|
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 29-10-2023 TO 28-04-2024
29-SEP-2023
|
|
| 5 |
|
|
AJAY VASTANI
(M.No.:132265)
|
|
|
|
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 EXERCISE PROFESSIONAL SKEPTICISM IN AUDITING COMPLEX ACCOUNTING ESTIMATES OF EXPECTED CREDIT LOSS (ECL)
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
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE
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.
|
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 16-06-2024 TO 15-06-2029
16-MAY-2024
|
|
| 6 |
|
|
AKASH GOEL
(M.No.:419186)
|
|
|
|
AKASH GOEL & CO.
(M.No.:017422C)
|
|
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 01-05-2023 TO 30-04-2024
31-MAR-2023
|
|
| 7 |
|
|
AMIT SOMANI
(M.No.:060154)
|
|
|
|
BSR & ASSOCIATES LLP
(M.No.:116231W)
|
|
CREATED AND MODIFIED AUDIT WORK PAPERS AFTER SIGNING AUDIT REPORT AND BETWEEN SIGNING OFF OF AUDIT WORK PAPERS AND AUDIT REPORT
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES IN RESPECT OF CAPITAL ADVANCE OF RS.130.55 CRORE GIVEN BY COFFEE DAY GLOBAL LTD. TO CLASSIC COFFEE CURING WORKS
DID NOT PERFORM RISK ASSESSMENT PROCEDURES IN RESPECT OF INTEREST INCOME OF RS.75 CRORE FROM MYSORE AMALGAMATED COFFEE ESTATE LTD. WITHOUT ANY UNDERLYING AGREEMENT
DID NOT IDENTIFY, ASSESS AND RESPOND TO FRAUD RISK AND RISK OF MATERIAL MISSTATEMENTS IN FINANCIAL STATEMENTS ARISING DUE TO DIVERSION OF FUNDS TO TUNE OF RS.2,549 CRORE TO MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO IDENTIFY AND EVALUATE LARGE SCALE EVERGREENING OF LOANS AND UNDERSTATEMENTS OF DIVERSION OF FUNDS TO MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT REPORT COFFEE DAY ENTERPRISES LTD. IN RESPECT OF LOANS GIVEN BY CDEL TO ITS SUBSIDIARIES VIOLATING COMPANIES (AUDITOR’S REPORT) ORDER, 2016 READ WITH SECTION 185 OF THE ACT.
|
IMPOSED PENALTY RS.25,00,000
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 19-09-2024 TO 18-09-2029
19-AUG-2024
|
|
| 8 |
|
|
AMIT VINAY CHATURVEDI
(M.No.:103141)
|
|
|
|
CHATURVEDI & SHAH LLP
|
|
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
|
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 05-01-2024 TO 04-01-2029
05-DEC-2023
|
|
| 9 |
|
|
ANIL CHAUHAN
(M.No.:166286)
|
|
|
|
ANIL CHAUHAN & ASSOCIATES
(M.No.:0140786W)
|
|
DID NOT MAINTAIN AUDIT FILE AND DID NOT CO-OPERATE WITH NFRA
DID NOT SUBMIT AUDIT FILES & RELATED DOCUMENTATION TO NFRA AND DID NOT RESPOND TO SCN ISSUED BY NFRA
|
IMPOSED PENALTY RS.20,00,000
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 05-02-2024 TO 04-02-2034
05-JAN-2024
|
|
| 10 |
|
|
APOORVE BANSAL
(M.No.:003838N)
|
|
|
|
SVP & ASSOCIATES
|
|
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
|
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 26-10-2023 TO 24-10-2024
26-SEP-2023
|
|
| 11 |
|
|
ARAVIND MAIYA
(M.No.:217433)
|
|
|
|
BSR & ASSOCIATES LLP
(M.No.:116231W)
|
|
CREATED AND MODIFIED AUDIT WORK PAPERS AFTER SIGNING AUDIT REPORT AND BETWEEN SIGNING OFF OF AUDIT WORK PAPERS AND AUDIT REPORT
DID NOT EXERCISE PROFESSIONAL SKEPTICISM AND JUDGEMENT AND DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES IN RESPECT OF CAPITAL ADVANCE OF RS.130.55 CRORE GIVEN BY COFFEE DAY GLOBAL LTD. TO CLASSIC COFFEE CURING WORKS
DID NOT PERFORM RISK ASSESSMENT PROCEDURES IN RESPECT OF INTEREST INCOME OF RS.75 CRORE FROM MYSORE AMALGAMATED COFFEE ESTATE LTD. WITHOUT ANY UNDERLYING AGREEMENT
DID NOT IDENTIFY, ASSESS AND RESPOND TO FRAUD RISK AND RISK OF MATERIAL MISSTATEMENTS IN FINANCIAL STATEMENTS ARISING DUE TO DIVERSION OF FUNDS TO TUNE OF RS.2,549 CRORE TO MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO IDENTIFY AND EVALUATE LARGE SCALE EVERGREENING OF LOANS AND UNDERSTATEMENTS OF DIVERSION OF FUNDS TO MYSORE AMALGAMATED COFFEE ESTATE LTD.
DID NOT REPORT COFFEE DAY ENTERPRISES LTD. IN RESPECT OF LOANS GIVEN BY CDEL TO ITS SUBSIDIARIES VIOLATING COMPANIES (AUDITOR’S REPORT) ORDER, 2016 READ WITH SECTION 185 OF THE ACT.
|
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 19-09-2024 TO 18-09-2034
19-AUG-2024
|
|
| 12 |
|
|
AYNA TAMTON
(M.No.:220163)
|
|
|
|
K.VARGHESE & CO.
(M.No.:004525S)
|
|
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 01-05-2023 TO 30-04-2024
31-MAR-2023
|
|
| 13 |
|
|
C.RAMESH
(M.No.:022268)
|
|
|
|
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 RISK ASSESSMENT PROCEDURE TO IDENTIFY, ASSESS AND RESPOND TO RISK OF MATERIAL MISSTATEMENT IN FINANCIAL STATEMENTS
TEMPERED AUDIT FILE WITHOUT VALID REASON AND MADE AUDIT FILE UNRELIABLE IN MATTER OF TANGLIN DEVELOPMENTS LTD.
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE IN MATTER OF TANGLIN DEVELOPMENTS LTD.
DID NOT REPORT FRAUDULENT LOAN TRANSACTIONS WITH MYSORE AMALGAMATED COFFEE ESTATE LTD. AND EVERGREENING OF LOANS THROUGH STRUCTURED CIRCULATION OF FUNDS
|
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 26-05-2023 TO 25-05-2028
26-APR-2023
|
|
| 14 |
|
|
C.RAMESH
(M.No.:022268)
|
|
|
|
SUNDARESHA & ASSOCIATES
(M.No.:008012S)
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT ENGAGEMENT VIOLATING STANDARDS ON QUALITY CONTROL (SQC)
DID NOT ENSURE FINANCIAL STATEMENTS OF GIRI VIDHYUT (INDIA) LTD. APPROVED BY BOARD OF DIRECTORS AND SIGNED BY THE DIRECTORS AUTHORIZED
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 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.
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 ENSURE MATERIAL INCONSISTENCY BETWEEN OTHER INFORMATION IN ANNUAL REPORT AND FINANCIAL STATEMENTS VIOLATING STANDARDS ON AUDITING 720
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE IN MATTER OF GIRI VIDHYUT (INDIA) LTD.
DID NOT REPORT MATERIAL MIS-STATEMENT OF RS.325 CRORE IN CASH FLOW STATEMENT OF GIRI VIDHYUT (INDIA) LTD.
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
|
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 30-06-2023 TO 29-06-2028
30-MAY-2023
|
|
| 15 |
|
|
C.RAMESH
(M.No.:022268)
|
|
|
|
SUNDARESHA & ASSOCIATES
(M.No.:008012S)
|
|
CONTINUED AUDIT ENGAGEMENT DISREGARDING INDEPENDENCE REQUIREMENTS
DID NOT FORM OPINION AND REPORTING ON FINANCIAL STATEMENTS
DID NOT IDENTIFY AND ASSESS RISK OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING NATURE OF ENTITY
TAMPERED AUDIT FILE TO MISLEAD NFRA AND MAKING AUDIT FILE UNRELIABLE
DID NOT OBTAIN AND EXAMINE VALUATION REPORT OF “GLOBAL VILLAGE UNDERTAKING”
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
|
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 26-05-2023 TO 25-05-2028
18-AUG-2023
|
|
| 16 |
|
|
CHAITANYA G.DESHPANDE
(M.No.:230802)
|
|
|
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SUNDARESHA & ASSOCIATES
(M.No.:008012S)
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DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT ENGAGEMENT VIOLATING STANDARDS ON QUALITY CONTROL (SQC)
DID NOT ENSURE FINANCIAL STATEMENTS OF GIRI VIDHYUT (INDIA) LTD. APPROVED BY BOARD OF DIRECTORS AND SIGNED BY THE DIRECTORS AUTHORIZED
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 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.
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 ENSURE MATERIAL INCONSISTENCY BETWEEN OTHER INFORMATION IN ANNUAL REPORT AND FINANCIAL STATEMENTS VIOLATING STANDARDS ON AUDITING 720
DID NOT PERFORM APPROPRIATE AUDIT PROCEDURES TO EVALUATE AND MAINTAIN INDEPENDENCE IN MATTER OF GIRI VIDHYUT (INDIA) LTD.
DID NOT REPORT MATERIAL MIS-STATEMENT OF RS.325 CRORE IN CASH FLOW STATEMENT OF GIRI VIDHYUT (INDIA) LTD.
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
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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 30-06-2023 TO 29-06-2028
30-MAY-2023
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| 17 |
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CHAITANYA G.DESHPANDE
(M.No.:230802)
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SUNDARESHA & ASSOCIATES
(M.No.:008012S)
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CONTINUED AUDIT ENGAGEMENT DISREGARDING INDEPENDENCE REQUIREMENTS
DID NOT FORM OPINION AND REPORTING ON FINANCIAL STATEMENTS
DID NOT IDENTIFY AND ASSESS RISK OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING NATURE OF ENTITY
TAMPERED AUDIT FILE TO MISLEAD NFRA AND MAKING AUDIT FILE UNRELIABLE
DID NOT OBTAIN AND EXAMINE VALUATION REPORT OF “GLOBAL VILLAGE UNDERTAKING”
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
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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 30-06-2023 TO 29-08-2028
18-AUG-2023
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| 18 |
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CHETAN DESAI
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HARIBHAKTI & CO.LLP
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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
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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 23-01-2025 TO 22-01-2030
23-DEC-2024
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| 19 |
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D.N.CHATURVEDI
(M.No.:012840)
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D N CHATURVEDI & CO.
(M.No.:000183C)
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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.
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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 29-10-2023 TO 28-10-2024
29-SEP-2023
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| 20 |
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DASARATY V.
(M.No.:026336)
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VENKATESH & CO.
(M.No.:004636S)
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ACCEPTED AUDIT ENGAGEMENT AS STATUTORY AUDITOR OF COFFEE DAY ENTERPRISES LTD. WITHOUT PERFORMING MANDATORY AUDIT PROCEDURES AND WITHOUT FIRST COMMUNICATING WITH RESIGNING AUDITOR
DID NOT EXERCISE DUE DILIGENCE AND BEING GROSSLY NEGLIGENT IN PREPARATION OF INDEPENDENT AUDITOR’S REPORT
DID NOT EXERCISE PROFESSIONAL SKEPTICISM & JUDGEMENT TO IDENTIFY AND ASSESS FRAUD RISK RAISED DUE TO DIVERSION OF RS.3,535.00 CRORE TO MYSORE AMALGAMATED COFFEE ESTATE LTD., EVERGREENING OF LOANS THROUGH CIRCULATION OF FUNDS AND DIVERSION OF RS.245 CRORES TO OTHER PARTIES IN THE NAME OF LAND ADVANCES
DID NOT PERFORM ROLE OF ENGAGEMENT QUALITY CONTROL REVIEW (EQCR) OBJECTIVELY
DID NOT REPORT FRAUDULENT DIVERSION OF FUNDS TO CENTRAL GOVERNMENT
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IMPOSED PENALTY RS.10,00,000
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 10-11-2024 TO 09-11-2034
10-OCT-2024
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