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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head>  <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0">  <tr>   <td align="left" valign="top">   <br />   Reserve Bank of India <br /><br /> Enforcement action in respect of statutory auditors of commercial banks<br /><br /> MANU/RPRL/0107/2019 - (03 Jun 2019)<br /><br />  </td>  </tr>    <tr>   <td align="left" valign="top"></td>  </tr>    <tr>   <td align="left" valign="top" style="background-color:#FDEDCE"><strong>RBI vide its Press Release dated June 29, 2018 had put in place an enforcement action framework in respect of statutory auditors for the lapses in the statutory audit of commercial banks. In terms of the aforesaid enforcement action framework, on account of the lapses identified in a statutory audit assignment carried out by the firm, M/s S.R.Batliboi & Co. LLP, Chartered Accountants (ICAI Firm Registration Number: 301003E), it has been decided that RBI will not approve the said firm for carrying out statutory audit assignments in commercial banks for one year starting from April 1, 2019. The action taken in the matter has been communicated to the Institute of Chartered Accountants of India.</strong></td>  </tr>  <tr>   <td align="left" valign="top" ><strong></strong></td>  </tr>   <tr>   <td align="left" valign="top" ><strong>Tags : Statutory auditors, Commercial banks, Enforcement action</strong></td>  </tr> <tr>   <td align="left" valign="top">&nbsp;</td>  </tr>  <tr>      <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td>  </tr> <tr>   <td align="left" valign="top">&nbsp;</td>  </tr>  <tr>   <td align="left" valign="top">Regards</td>  </tr>  <tr>   <td align="left" valign="top">Team Manupatra</td>  </tr>  <tr>   <td align="left" valign="top">&nbsp;</td>  </tr>   </table> </div> </body> </html>