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Companies Law - Highlights / Catch Notes

Home Highlights May 2025 Year 2025 This

HC quashed criminal complaints against individual auditor for ...


Auditor Cleared: Technical Reporting Gaps Do Not Warrant Criminal Prosecution Under Companies Act Section 143

May 15, 2025

Case Laws     Companies Law     HC

HC quashed criminal complaints against individual auditor for alleged non-compliance with Companies Act section 143, finding prosecution malicious. The court determined that failure to specify exact degree of relationship in related party transactions does not constitute a prosecutable offense. The court held that the auditor, joined individually without the audit firm, should not face trial. Consequently, all criminal enquiries and consequential proceedings against the petitioner were set aside, effectively exonerating the individual from potential legal action related to accounting standard violations.

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