Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Professional misconduct by CA - The NFRA concluded that the actions of the firm and the engagement partner constituted professional misconduct. They failed to cooperate with the NFRA's investigation by not providing the requested information and by submitting false statements. The authority imposed a monetary penalty of fifty lakhs INR on the audit firm and thirty lakhs INR on the engagement partner. Furthermore, they were barred from being appointed as auditors or undertaking any audits related to financial statements or internal audit functions of any company or body corporate for two and ten years, respectively.
Professional misconduct by CA - The NFRA concluded that the actions of the firm and the engagement partner constituted professional misconduct. They failed to cooperate with the NFRA's investigation by not providing the requested information and by submitting false statements. The authority imposed a monetary penalty of fifty lakhs INR on the audit firm and thirty lakhs INR on the engagement partner. Furthermore, they were barred from being appointed as auditors or undertaking any audits related to financial statements or internal audit functions of any company or body corporate for two and ten years, respectively.
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