Former Deloitte Chief Fined Rs 25L, Barred for Seven Years
The national audit regulator has debarred Udayan Sen, former CEO of Deloitte India, for seven years and slapped a penalty of Rs 25 lakh for his role in "omissions/misstatements" in the audit of fraud-hit IL&FS Financial Services. "Udayan Sen is debarred for the period of seven years from being appointed as an auditor or internal auditor or undertaking any audit in respect of financial statements or internal audit of the functions and activities of any company or body corporate," National Financial Reporting Authority (NFRA) said in a statement on Wednesday.