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Holding chartered accountant (CA) Anil Chauhan and his firm Anil Chauhan & Associates guilty of professional misconduct while performing the statutory audit of Seya Industries Ltd (SIL) financial year (FY)18-19, FY19-20, the national financial reporting authority (NFRA) imposed a penalty of Rs20 lakh on the CA, while barring, for ten years, him and his firm from being appointed as an auditor or internal auditor or from undertaking any audit.

Holding chartered accountant (CA) Pawan Jain guilty of professional misconduct and issuing reports to Quess Corp Ltd under the Income Tax (I-T) Act without exercising due diligence and obtaining sufficient information, the national financial reporting authority (NFRA) imposed a penalty of Rs50 lakh on the CA.

Holding a chartered account (CA), Shyam Malpani, who worked as an engagement partner (EP), responsible for professional misconduct and conflict of interest while conducting the statutory audit of S Kumars Nationwide Ltd (SKNL) for FY13-14, the national financial reporting authority (NFRA) barred the CA for five years and and imposed a penalty of Rs5 lakh.

NFRA has debarred two statutory auditors of erstwhile Dewan Housing Finance Corporation Ltd (DHFL) for 10 years and five years respectively, and imposed fines on them for professional misconduct in the discharge of their audit work.

Holding chartered accountant (CA) Nilesh Chheda responsible for professional misconduct as engagement partner (EP) for the fiscal year (FY)16-17 statutory audit (SA) of MAN Industries (India) Ltd (MIIL), the National Financial Reporting Authority (NFRA) has banned the CA for five years from being appointed as an auditor or internal auditor or from undertaking any audit and imposed a penalty of Rs5 lakh.