The Karnataka High Court has stayed the Enforcement Directorate’s FEMA proceedings against Malavika Hegde, CEO of Coffee Day Enterprises, citing serious legal issues including delay and liability. The Court has paused the ED’s 2022 complaint, show cause notice, and hearing notices till further hearing on January 23.
New Delhi: Recently, The Supreme Court upheld the National Company Law Appellate Tribunal’s order on disciplinary action against auditors, strengthening the National Financial Reporting Authority’s (NFRA) authority. The case involved a penalty and practice bar against an auditor due to lapses in DHFL’s audit. This decision sets a precedent for NFRA’s disciplinary measures in similar cases.
