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The National Company Law Tribunal (NCLT), Bengaluru Bench, has prohibited a city-based chartered accountant (CA) from being appointed as a statutory auditor of any company for a period of five years for “committing fraud along with the company by not reporting the discrepancies and fraudulent transactions of the company”.
Ramaiah Nataraja, Proprietor of M/s. Nataraja & Co. Chartered Accountants, Bengaluru, has also has failed to inquire about the fraudulent functioning the company, M/s Super Royal Holiday India Private Limited, which is against the prudent business practice under Section 143 (Powers and
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