NFRA Debars 25 CA/CA Firms During Last Year due to Professional Misconduct: A Complete List

The National Financial Reporting Authority (NFRA) was constituted on 01st October,2018 by the Government of India under Sub Section (1) of section 132 of the Companies Act, 2013. The NFRA has the power to investigate the matters of professional or other misconduct committed by a prescribed class of Chartered Accountants (CA) or CA Firms. No other authorities are entitled to such powers.

During the last year, from 2st June 2022 to 30th May 2023, the NFAR has debarred 25 CAs and CA Firms and the same is updated in the website of NFRA. here’s the complete list of CA and CA Firms debarred:

S.No.	Auditor / CA Firm	Penalty	Debarment
1	CA Chaitanya G. Deshpande	Five Lakh	Five years
2	CA C. Ramesh	Five Lakh	Five years
3	M/s Sundaresha & Associates	One Crore	Additional Two years
4	CA Rakesh Puri	Five Lakh	Five years
5	CA Hemant Khator	Two Lakhs	Two years
6	CA Narayan Prasad Swami	Two Lakhs	Two years
7	CA C. Ramesh	Five Lakhs	Five years
8	M/s Sundaresha & Associates	One Crore	Two years
9	CA Lavitha Shetty	Ten Lakh	Ten years
10	CA Naresh Kumar	Three Lakh	Three years
11	CA Pankaj Kumar	Three Lakh	Three years
12	CA Lavitha Shetty	Five Lakh	Five years
13	CA M Baskaran	One Lakh	One year
14	CA Harish Kumar T K	One Lakh	One year
15	CA Mathew Samuel	One Lakh	One year
16	CA Sam Varghese	One Lakh	One year
17	CA Pranaav G. Ambekar	Five Lakh	Five years
18	CA Madhusudan U A	Five Lakh	Five years
19	CA A. S. Sundaresha	Ten Lakh	Ten years
20	M/s ASRMP & Co.	One Crore	Two years
21	CA Ayna Tamton	One Lakh	One year
22	CA Akash Goel	One Lakh	One year
23	CA Rajiv Bengali	Five Lakh	Five years
24	CA Som Prakash Aggarwal	Three Lakh	Three years
25	CA Gulshan Jagdish Jham	One Lakh	One year

In the above list, M/s Sundaresha & Associates and CA Lavitha Shettu debarred twice by the NFRA.

The NFRA has similar powers as Civil Courts under the Code of Civil Procedure , 1908, in respect of a suit involving the following matters.

1. Discovery and production of books of account and other documents
2. Summoning and enforcing the attendance of persons and examining them under oath
3. Inspection of any books, registers, and other documents of any person at any place
4. Issuing commissions for the examination of witnesses or documents.

To Read the full text of the Order CLICK HERE

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