The Delhi High Court has temporarily halted proceedings initiated under the Companies Act against Chartered Accountant Unnikrishnan Menon.
Alleged professional misconduct related to claiming deductions for Queens Corp Limited prompted the National Financial Reporting Authority (NFRA) to issue a show cause notice.
Menon argued that NFRA can only issue notices to the auditor under investigation, citing NFRA Rules.
Justice Subramonium Prasad found a prima facie case in Menon’s favor, staying the proceedings until the next hearing on May 7.
The court also issued a notice to NFRA.
Advocates Sanjeev Puri, Ajay Bahl, Vinati Kastia, Aditya Jalan, and Raghav Seth represented Menon, while Advocate Zoheb Hossain represented NFRA. Central Government Standing Counsel Asheesh Jain and advocate M Theepa appeared for the Union government.