Amit Somani Vs National Financial Reporting Authority (NCLAT Delhi)
NCLAT Delhi held that delay of 147 days in refiling of an appeal against National Financial Reporting Authority [NFRA] order without any satisfying reasons is not condonable. Accordingly, appeal dismissed and delay not condoned.
Facts- The present Company Appeal has been filed by the Appellant i.e. Amit Somani, u/s. 132(5) of the Companies Act, 2013, challenging the Impugned Order dated 19.08.2024 passed by the National Financial Reporting Authority, New Delhi (NFRA) ‘in the matter of M/s BSR & Associates LLP, CA Aravind Maiya and CA Amit Somani, u/s. 132 (4) (c) of the Companies Act, 2013. National Financial Reporting Authority (“NFRA”) is the Respondent herein.
The Impugned Order dated 19.08.2024 pertains to the statutory audit of M/s Coffee Day Enterprises Ltd. (CDEL) for the financial year 2018-19, conducted by M/s BSR & Associates LLP, with CA Aravind Maiya as the Engagement Partner (EP) and CA Amit Somani as the Engagement Quality Control Reviewer (EQCR).
The Impugned Order dated 19.08.2024 charged the Appellant i.e. CA Amit Somani with professional misconduct under Clause 7, Part I of the Second Schedule of the Chartered Accountants Act, 1949, for alleged failure to exercise due diligence or gross negligence.
