RGNUL Financial & Mercantile Law Review

This piece is authored by Anant Tiwari, a second-year/B.A.LL.B.(Hons.) student, at National Law Institute University, Bhopal. INTRODUCTION The National Financial Reporting Authority (“NFRA”) was created under Section 132 of the Companies Act, 2013 (“the Act”), shifting auditor oversight from professional self-regulation to an independent regulator. The scope and exercise of NFRA’s powers were challenged before the Delhi High Court in Deloitte Haskins & Sells LLP v. Union o