RBI bars Srei Infrastructure auditor Haribhakti & Co for two years

The audit firm, which is also a regular auditor of important banks, including state-owned banks, has been debarred under section 45MAA of the Reserve Bank of India Act

The Reserve Bank of India (RBI) on Tuesday debarred audit firm Haribhakti & Co from undertaking audit assignments in any of the banking and non-banking financial companies (NBFC) for two years starting April 1, 2022, for failing to comply with its direction.
 
Haribhakti was the auditor of SREI Infrastructure Fina­nce, a listed firm, for 2019-20. The RBI superseded the boards of SIFL and Srei Equ­ipment Finance on October 4 over governance concerns and payment defaults. “This action has been taken on account of the failure on the part of the audit firm to comply with a specific direction issued