<div><br />''</div>''<div><br />''</div>''<div>Chartered accountants' apex body ICAI has issued show-cause notices to the auditors of Punjab National Bank and Gitanjali Gems in connection with the 11,400 crore rupees fraud. ICAI has said that it has summoned a deputy general manager of PNB seeking details about the fraud at the public sector lender. The Institure has also written to the Reserve Bank of India requesting it to provide the list of the corporate borrowers of public sector banks having outstanding loan amount of 2,000 crore rupees and above.</div>''<div> The list would be examined by the Financial Reporting Review Board of ICAI for any possible violation of applicable standards of accounting as well as auditing.</div>''<div> The ICAI has also written to the Ministry of Corporate Affairs requesting it to ask SEBI, CBI, ED and PNB to share their findings to enable it to accelerate the action against any chartered accountant who has any role in this fraud. </div>
News On AIR | February 23, 2018 6:54 AM
ICAI notices to auditors of PNB, Gitanjali Gems in connection with Rs.11,400 cr fraud