Unauthorized transactions with related parties without the proper approval of Audit Committee, Board and Shareholders: NFRA slapped penalty of Rs. 2 crores on Auditor
Zee Entertainment Enterprises Ltd (ZEEL)
NFRA slapped penalty of Rs. 2 crores on Deloitte Haskins & Sells LLP, 10 lakh on Engagement Partner and Rs. 5 lakh penalty on Engagement Quality Control Review Partner for professional misconduct in connection with audit of the company for the FY 2018-19 and FY 2019-20. NFRA has also debarred Engagement Partner for 5 years and Engagement Quality Control Review Partner 3 years. NFRA observed that Zee Entertainment Enterprises Ltd (ZEEL) made unauthorized transactions with related parties without the proper approval of Audit Committee, Board and Shareholders.
The copy of the order is as under:
