New Delhi: in a boost for the National Financial Reporting Authority (NFRA), The Delhi High Court has uphed the provisions that allows against the AUDIT FIMM and Its Partners, Along with the Agency's Retrospective Jurisdiction, Whilel Dismissing PISSISING PISH Audit Files to Prove Professional Misconduct,
Hearing a bunch of petitions from aggrieved Audit Firms And Bodies, REPRESTING Chalred Accountants, A Bench of Justices Yashwant Varma and Dharmesh Sharma, however, however, raised concerns over nfra not constituted divisions for Audit Quality Review And disciplinary actions and sought fresh evaluation of findings in 11 cases, Most dealing with IL & FS.
With the matter Had been cleared by the National Company Law Applete Tribunal in Dec 2023, NFRA May seek a review of the delhi hc order on this aspect aSpect as the superame Court HAD ALSO SUBSEQUOKERT HED ALSOTO
In Its 476-Page Order, The Bench has uphed the constitutional validity of section 132 of the Companies Act And nfra rules, ruling that the provision was neither an overreach, Nor was it Arbitrary, but was negassary to maintenance professional accountability.
Dismissing the stand , Where Roles and Responsibilites Overlap to Ensure the highhest levels of professional service. M's obligations. ” It has affirmed that the intent of parloment was to waste exclusive authority in the nfra to investigate allegations of misconduct and to brings even pending proceedings with the Scope of its investment.
(Tagstotranslate) Business News (T) Professional Misconduct (T) National Financial Reporting Authority (T) Delhi High Court RULING (T) Companies Act (T) Companies Act (T) Audit Quality Review
Leave a Reply