Disposed

B S R and Associates LLP & Anr. v. National Financial Reporting Authority Government of India

Delhi HC4 Mar 2025W.P.(C)/10452/2020

Case brief

AI extract

What is this about?

Petition challenged a show cause notice dated 07.01.2021 and an Audit Quality Review process by NFRA. NFRA withdrew the show cause notice on 28.02.2025, citing a Division Bench judgment of 07.02.2025, and stated the AQR process was non-actionable. The court found the grievance redressed and disposed of the petition with pending applications.

What the court decided

AI extract

B S R and Associates LLP & Anr. Vs National Financial… — Writ and Judicial Review | Delhi HC (2025)

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$~14

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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- W.P.(C) 10452/2020 and CM APPLs.33070/2020, 3480/2021, 13001/2025

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B S R AND ASSOCIATES LLP & ANR. .....Petitioners Through: Mr. Jayant Mehta (Sr. Adv) along with Mr. VP Singh, Mr. aditya Jalan, Mr. Raghav Seth, Ms. Bhagya Yadav, Mr. Anant Narayan Mishra, Advs.

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versus

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NATIONAL FINANCIAL REPORTING AUTHORITY GOVERNMENT OF INDIA .....Respondent Through: Mr. Zoheb Hossain, Mr. Vivek Gurnani, Mr. Suradhish Vats, Advs. Ms. Saumya Tandon (CGSC) along with Mr. Arjun Basra, Adv.

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CORAM:

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HON'BLE MR. JUSTICE SACHIN DATTA

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O R D E R % 04.03.2025

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During the course of hearing, it has been apprised by respective counsel for the parties that the show cause notice dated 07.01.2021, impugned in the present petition, has been withdrawn vide communication dated 28.02.2025. The said communication dated 28.02.2025 has been filed as Annexure-7 to CM APPL. 13001/2025.

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Learned Counsel for the National Financial Reporting Authority (NFRA) submits that apart from the aspects referred to in the said communication dated 28.02.2025, the withdrawal of the aforesaid show cause notice is necessitated on account of a judgment dated 07.02.2025 rendered by a Division Bench of this Court in Deloitte Haskins & Sells LLP v. Union of India and Another, in W.P.(C) 1065/2021 and connected matters.

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This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 01/07/2025 at 19:29:28

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He further states that the Audit Quality Review (AQR) process, which has also been impugned in the present petition, is non-actionable.

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In view of the above statement, the grievance raised by the petitioner in the present petition stands redressed.

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In the circumstances, no further orders are required to be passed in the present petition, and the same is disposed of. All pending applications also stand disposed of.

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SACHIN DATTA, J

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MARCH 4, 2025/ uk

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B S R and Associates LLP & Anr. v. National Financial Reporting Authority Government of India

Case brief

What is this about?

What the court decided

B S R and Associates LLP & Anr. v. National Financial Reporting Authority Government of India

Case brief

What is this about?

What the court decided

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