https://www.taxtmi.com/caselaws?id=311121 Securities Appellate Tribunal Mumbai found that SEBI's charge of collusion between auditor and company directors in financial fraud was based on surmises and conjectures, lacking proper evidence. While auditor's negligence in certification did not constitute collusion or manipulation, the tribunal noted ICAI's disciplinary finding of professional misconduct regarding incorrect capital expenditure certification. The tribunal reduced SEBI's restraint order from one year to three months, preventing the auditor from issuing certificates related to listed company audits. Appeal was partly allowed. en-us Wed, 02 Nov 2022 00:00:00 +0530 Sat, 09 Dec 2023 08:56:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311121 Securities Appellate Tribunal Mumbai found that SEBI's charge of collusion between auditor and company directors in financial fraud was based on surmises and conjectures, lacking proper evidence. While auditor's negligence in certification did not constitute collusion or manipulation, the tribunal noted ICAI's disciplinary finding of professional misconduct regarding incorrect capital expenditure certification. The tribunal reduced SEBI's restraint order from one year to three months, preventing the auditor from issuing certificates related to listed company audits. Appeal was partly allowed. Case-Laws SEBI Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311121