NFRA bans 2 CAs for audit lapses at Anil Ambani's Reliance Capital

NFRA banned two chartered accountants, Parimal Kumar Jha and Vishal Shah, for 10 and five years respectively after it found audit lapses at Anil Ambani's Reliance Capital. NFRA imposed ₹3 crore, ₹1 crore and ₹50 lakh penalties respectively on Pathak HD & Associates, Jha and Shah. Reliance Capital's earlier auditor Price Waterhouse had reported suspected fraud at the firm.