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RBI debars Haribhakti & Co from undertaking audit for 2 years

The Reserve Bank of India, in exercise of the powers vested in it under section 45MAA of the RBI Act, 1934, has, by an order dated September 23, 2021, debarred M/s Haribhakti & Co. LLP, Chartered Accountants (ICAI Firm Registration No. 103523W / W100048), from undertaking any type of audit assignment/s in any of the entities regulated by the RBI for two years, with effect from April 1, 2022.
This action was taken on account of the audit firm’s failure to comply with a specific direction issued by the RBI with respect to its statutory audit of a systemically important non-banking financial company. This will not impact audit assignments of M/s Haribhakti & Co. LLP in RBI-regulated entities for the financial year 2021-22.

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