https://www.taxtmi.com/caselaws?id=396124 A liquidator's failure to publish the public announcement in newspapers within the prescribed time under the voluntary liquidation regulations was treated as a contravention because the rule requires timely publication to notify stakeholders and invite claims, and belated publication does not cure the breach. Engaging the erstwhile statutory auditor for audit work during liquidation was also held contrary to the independence requirements, since the regulations bar appointment of a person who served as auditor during the preceding five years and member approval cannot override that prohibition. The disciplinary authority found negligence and multiple regulatory breaches and imposed a monetary penalty with a bar on fresh assignments until compliance. en-us Fri, 20 Mar 2020 00:00:00 +0530 Mon, 22 Jun 2020 06:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396124 A liquidator's failure to publish the public announcement in newspapers within the prescribed time under the voluntary liquidation regulations was treated as a contravention because the rule requires timely publication to notify stakeholders and invite claims, and belated publication does not cure the breach. Engaging the erstwhile statutory auditor for audit work during liquidation was also held contrary to the independence requirements, since the regulations bar appointment of a person who served as auditor during the preceding five years and member approval cannot override that prohibition. The disciplinary authority found negligence and multiple regulatory breaches and imposed a monetary penalty with a bar on fresh assignments until compliance. Case-Laws Insolvency and Bankruptcy Fri, 20 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396124