2024 (5) TMI 1533 - SCH - Companies Law

Professional misconduct - Role of NFRA V/s ICAI on disciplinary matters of Chartered Accountants - Retrospective V/s prospective applicability of provisions as contained in Section 132 of Companies Act 2013 as well as NFRA Rules 2018 - it was held by NCLAT that It is of utmost importance that Auditors realise their responsibilities which is necessary not only to the company but also to the public. In view thereof giving effect to the Impugned Orders which highlights the professional misconduct and other misconduct on the part of the appellant vis- -vis a public listed company become quintessential so as to make public aware and enable them to make informed and sound financial decisions and investments. HELD THAT - There are no good ground and reason to interfere with the order of the National Company Law Appellate Tribunal - appeal dismissed.

Summary

**Summary of Supreme Court Judgment:**The Supreme Court of India, comprising Hon'ble Mr. Justice Sanjiv Khanna and Hon'ble Mr. Justice Dipankar Datta, reviewed the appeal in relation to the order of the National Company Law Appellate Tribunal (NCLAT) dated 01.12.2023 in Company Appeal (AT) No. 68 of 2023. The Court concluded that there were no sufficient grounds to interfere with the NCLAT's decision. Consequently, the appeal was dismissed. Any pending applications related to the case were also disposed of.