https://www.taxtmi.com/caselaws?id=796152 Criminal liability of a statutory auditor for account-related defaults requires the statutory status or specific management charge contemplated by the relevant provisions; an auditor outside those categories cannot be prosecuted for non-compliance concerning the company's accounts. False-statement liability requires a knowingly material false statement or omission, and cannot rest merely on failure to report accounting-standard non-compliance. Penal liability for audit-reporting failures further requires a pleaded and supportable wilful default; qualifications in audit reports and alleged inadequate enquiries may indicate lack of due care but do not establish wilfulness. The proceedings were therefore unsustainable on the pleaded allegations. en-us Wed, 29 Jul 2026 00:00:00 +0530 Sat, 01 Aug 2026 08:34:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796152 Criminal liability of a statutory auditor for account-related defaults requires the statutory status or specific management charge contemplated by the relevant provisions; an auditor outside those categories cannot be prosecuted for non-compliance concerning the company's accounts. False-statement liability requires a knowingly material false statement or omission, and cannot rest merely on failure to report accounting-standard non-compliance. Penal liability for audit-reporting failures further requires a pleaded and supportable wilful default; qualifications in audit reports and alleged inadequate enquiries may indicate lack of due care but do not establish wilfulness. The proceedings were therefore unsustainable on the pleaded allegations. Case-Laws Companies Law Wed, 29 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796152