Sebi penalises two former auditors of CG Power
"This is also a fit case where SEBI needs to send a stern message to professionals who associate themselves with securities market so as to prevent them from indulging in such acts of omissions and commissions as found in this case," Sebi said.
By ET Bureau | Updated:
Agencies
Mumbai: The Securities and Exchange Board of India (Sebi) Thursday penalised two former auditors of CG Power for certifying the financials of the company as 'true and fair' despite being aware of the irregularities. Sebi has imposed a penalty of ₹5 lakh each on Chaturvedi & Shah and K. K. Mankeshwar & Co.
Sebi said false and misleading disclosures in the audit report as found in this case are detrimental to the interests of investors.
"This is also a fit case where SEBI needs to send a stern message to professionals who associate themselves with securities market so as to prevent them from indulging in such acts of omissions and commissions as found in this case," Sebi said.
Sebi said false and misleading disclosures in the audit report as found in this case are detrimental to the interests of investors.
"This is also a fit case where SEBI needs to send a stern message to professionals who associate themselves with securities market so as to prevent them from indulging in such acts of omissions and commissions as found in this case," Sebi said.
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