Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
NFRA can rule on penal powers
Mint Kolkata
|March 12, 2025
The National Financial Reporting Authority (NFRA) has got a boost to its powers with the Supreme Court allowing the audit regulator to decide on a dispute over its powers to penalize professionals guiding statutory auditors, showed an order from the apex court.
The Supreme Court on 7 March allowed NFRA to pass an order on the matter and disposed of a Delhi High Court order in January that had ruled that NFRA had no powers to penalize these professionals - called 'engagement quality control reviewers' (EQCR).
On NFRA's appeal against the High Court ruling, the apex court said that a professional who was issued show cause notice by NFRA can file their objections to the regulator and if these are filed, NFRA must consider them on both jurisdictional issues and other aspects before passing a well-reasoned order, showed the apex court order seen by Mint.
This story is from the March 12, 2025 edition of Mint Kolkata.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Kolkata
Mint Kolkata
Nvidia seeks to make 6G AI-ready
5G isn't capable of supporting the widespread use of AI, Nvidia said
1 min
March 02, 2026
Mint Kolkata
THE REAL SCANDAL IN IDFC CASE GOES BEYOND THE FRAUD
The IDFC First Bank fraud has angered people.
2 mins
March 02, 2026
Mint Kolkata
Bollywood remains gateway for global music in India
With Bahraini rapper Flipperachi set for an India concert tour after gaining popularity in the country, thanks to his track FAQLA in Aditya Dhar's Dhurandhar, industry experts say Bollywood has, in several cases, acted as a cultural accelerator for international acts in India.
1 mins
March 02, 2026
Mint Kolkata
'If India starts performing, underweight investors may fuel the rally'
Interest in India is beginning to return among global investors, but the money hasn't followed yet.
3 mins
March 02, 2026
Mint Kolkata
Indian firms in crisis mode as conflict escalates
The safety of human life is our foremost priority, and the Company will deploy every resource at its disposal to ensure the well-being of all its people,” the spokesperson said.
1 mins
March 02, 2026
Mint Kolkata
STCG: Does basic exemption limit apply?
I started investing in equities in 2025 and recently sold some shares, booking a small gain.
2 mins
March 02, 2026
Mint Kolkata
Factory inspection norms eased
In a regulatory overhaul aimed at easing compliance and supporting domestic manufacturing, the government has introduced a self-declaration route for select products under the Bureau of Indian Standards (BIS) framework, eliminating mandatory pre-licence factory inspections while tightening annual compliance requirements, two government officials aware of the matter said.
1 mins
March 02, 2026
Mint Kolkata
THE RISE OF THE YIELD-GENERATING VILLA
A clutch of full-service platforms is helping owners turn their holiday villas into income-generating assets
7 mins
March 02, 2026
Mint Kolkata
Tiny listings fail at big-league pivot
India’s once busy SME-to-mainboard migration route has slowed sharply.
1 min
March 02, 2026
Mint Kolkata
Oil lines blocked, India eyes options
India's crude oil refiners are scouting for new supply sources after Iran's historic announcement of the closure of Strait of Hormuz, three people aware of the development said.
1 min
March 02, 2026
Listen
Translate
Change font size