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NCLAT orders removal of statutory auditor for issuing fake audit certificate of company

January 7, 2019[2019] 101 98 (NCLT - Mum.)

CL : Where family members of statutory auditor i.e., respondent No.1 were shareholders of respondent No.2 company and respondent No. 1 had issued audit certificate of company even without examining any Books of Account of company which was clear cut violation of statutory provision of Section 141(3)(d),respondent No. 1 would immediately cease to function as statutory auditor of respondent No. 2 company and MCA was permitted to appoint an independent auditor for respondent No 2 company to replace respondent No 1, in terms of first proviso to Section 140(5)

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