Supreme Court dismisses challenge to NCLAT ruling on retrospective powers of NFRA to probe audit misconduct

The Court dismissed an appeal challenging an NCLAT order, in which it had also ruled that the NFRA is empowered to investigate actions that took place before its formation in 2018.
Supreme Court
Supreme Court

The Supreme Court recently dismissed an appeal challenging a National Company Law Appellate Tribunal (NCLAT) order, in which it had also held that the National Financial Reporting Authority (NFRA) has retrospective powers to investigate allegations of misconduct by financial auditors [Harish Kumar T.K. v. National Financial Reporting Authority].

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